Tax reform

The legislation and public perceptions of it are expected to play a major role in 2018 elections that will determine whether Republicans retain control of Congress.

The tax reform bill Congress sent to President Trump's desk this week is likely to prompt at least a short-term spike in mortgage rates.

Sales of previously owned homes rose in November to an almost 11-year high, indicating demand picked up momentum heading into the end of the year.

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 House vote moved a sharp reduction in the corporate tax rate for banks and other businesses to within a few steps of becoming law.

New Jersey's home values in some markets could take a 10% hit under the tax overhaul nearing a vote in Congress, according to a new report.

With tax reform close to the finish line, bankers are still clear winners from the compromise worked out between House and Senate negotiators. But the bill includes some caveats that might give institutions pause.

Regulatory changes that would put an end to state and local tax deductions could prompt many homeowners in high-tax states to consider relocating, a Redfin survey shows.

Mortgage rates ticked up this week, but a larger rise is possible next week depending on what Congress does about tax reform and the budget.

While consumer optimism about the nation's housing market returned to near-record levels in November, it could be tested in December as they digest the impact of tax reform.

The lower mortgage interest deduction cap in House Republicans' tax bill would create a disincentive for existing homeowners to sell and add to already tight housing inventory concerns, according to Black Knight.

A provision in the original Senate tax reform bill would have required companies acquiring mortgage servicing rights to pay taxes upfront for their anticipated servicing income.

A provision in the tax bill passed by the House of Representatives would only intensify the housing crunch by crippling affordable housing construction, developers and local government officials say.

The financial services industry has cheered a proposed reduction in the corporate tax rate, but a lower rate could force Fannie Mae and Freddie Mac to write down assets, increasing the odds that the companies will need Treasury support.

The Senate tax reform proposal could force servicers to pay tax upfront on income that is currently tax deferred, according to the Mortgage Bankers Association and the Consumer Mortgage Coalition.

Sales of previously owned U.S. homes rose to a four-month high, indicating demand was firming at the start of the quarter as the impact from the late summer hurricanes faded, according to a National Association of Realtors report.

Mortgage rates moved to their highest mark since July and the 10-year Treasury yield ticked up 6 basis points, according to Freddie Mac.

As Congress debates tax reform and which deductions to remove, a majority of homeowners from both parties worried that rising property taxes could force them to sell.

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.

The elimination of private activity bonds “would throw gasoline on a housing shortage," said John Chiang, California's treasurer.