Mortgage Interest
Jobs and unemployment figures released last week revealed that the U.S. created 223,000 jobs in May and the unemployment rate sat at 3.8 percent — a positive for the economy that moved money out of the bond market and back into the stock market. But what does that mean for interest rates? Should we lock or…
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Lately, the stock market has had more ups and downs than a teenage romance, but those who are looking for safer investments haven’t found the bond market to be any salve to our economic turbulence. But for those who are reading the tea leaves, when is the best time to lock in a rate? Should…
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Surprisingly, bonds were up last week at the close of the market on Friday — a welcome, but modest change in the face of a turbulent stock market. Though the Federal reserve put off an interest rate increase, that could change in the coming months. And though employment figures have positive momentum, reports show the…
Read MoreThere’s been some debate in Washington on what to do about the country’s growing inability to pay its bills. As a means to shrink the budget deficit, the House Ways and Means Committee discussed doing away with the popular mortgage interest deduction. It’s a pretty popular tax break for homeowners. It allows taxpayers to deduct…
Read MoreHomeowners who owe more than $1 million on their homes are under intensified scrutiny by the IRS now. Why? Because of so much confusion over deducting the interest on those over $1 million mortgages. And you can do the math — if your mortgage is more than a million, you are likely deducting a boatload…
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