This Thursday President Obama squares off against his Republican challenger Mitt Romney for a second debate. It would be nice if the moderator asks the candidates if they favor keeping the tax deduction for mortgage interest and if the answer is yes – what will the cap be? Presently it’s $1 million per household but Republicans, historically, don’t tend to be ‘friends’ of housing. Then again, liberal Democrats might argue that neither is this president. Meanwhile, Fannie Mae and Freddie Mac report third quarter earnings next month and chances are both will post solid numbers – but the cash (of course) will wind up in the coffers of the U.S. Treasury. As for the future of the GSEs, that issue is wide open.
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