Mortgage Monday with the Senate. [#DHallTheINSIDER]

insider 11_13_2017

Photo Source: Southern Living Mag.

The Senate came back with their version of the new tax plan and it preserves the mortgage interest deduction cap of $1M, eliminates the deduction for property taxes, and features seven tax brackets (compared to the House bill which consolidated them into four).

Most frequently used method for submitting a mortgage application, whether refinance or purchase, for the first time was done online, up 28% from a year ago to 43%. However, satisfaction with online submissions dropped and it has a lot to do with setting the proper expectations, something an online platform or chat robot can’t provide.

Austin, Texas wins best city for veterans with its lowest veteran unemployment rate in the nation.

2018 will bring new faces to the Fed, as Fed Chair held by Janet Yellen will be replaced by Jerome Powell in February and Vice Chair and NY Fed President positions are still up for determination. December is only a month away and we’re still leaning towards expecting a rate hike.


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