Trump tax plan

Homeowners can tap into more home equity than ever before, but deciding between a home equity line of credit and cash out refinance mortgage has gotten more complicated following recently passed tax reforms.

Employees at HarborOne Bank and its Merrimack Mortgage Co. subsidiary will see their minimum wage rise to $15 per hour, the latest company to accelerate plans to hike salaries.

Earlier versions of the bill would have caused bigger changes in how Americans finance home purchases, higher education and retirement. Still, the final legislation will have important effects on borrowing and saving decisions.

The Senate approved the final tax reform plan 51-48 early Wednesday, the second-to-last obstacle before sending it to President Trump for his signature.

The Senate tax proposal released Thursday would cap the mortgage interest deduction for properties worth $1 million, a reversal from the House plan that would have limited the deduction to $500,000.