Mortgage Interest Deduction Archive

Who Owns a Half Million-Dollar Home?

After the release of the tax reform legislation from the House, last week’s question was “who will be affected by the new bill?” One of the key elements of the tax reform is the proposed capping of the mortgage...

Time to Normalize Fees

In the spring of 2015, the Federal Housing Administration (FHA) reduced its annual insurance premium. The move was controversial as the FHA was below its statutory capital ratio of 2.0 percent. However, the reduction in the MIP generated an...

Understanding Figures Reported on the MID

According to the most recent public data from the IRS, there were about 144 million[1] US tax filers in 2010.  In the same year, the US resident population was 309 million[2] and the number of households was estimated to...

Mortgage Interest Deduction Facts

There is some talk that the mortgage interest deduction, or some portion of it, is on the table for a cut in the grand bargain over the debt ceiling debate.  Here are some figures on the mortgage interest deduction...

Mortgaged and Non-mortgaged Home Owners by State

Experts often cite the fact that only about half of homeowners take a deduction for mortgage interest (MID) on their taxes each year. Technically speaking, this information is not wrong, but is it useful? In the chart, calculations of...