Review Mortgage Lenders

Abc Mortgage

ABC Mortgage Funding Ocala Testimonials

Our TV Testimonials Commercial www.abcmortgagefundingocala.co m

US long-term mortgage rates decline to 3.9 percent

Long-term U.S. mortgage rates slipped this week, a sign that borrowing costs are largely stable even as the Federal Reserve has raised its benchmark short-term interest rate .

Mortgage buyer Freddie Mac said Thursday that the average rate on 30-year, fixed-rate mortgages slipped to 3.9 percent, from 3.94 percent last week.

The rate is higher than it was a year ago, when it was 3.57 percent. But it is still historically low. Before the 2008 recession, it was typically closer to 6 percent.

Long-term home loan rates tend to track the yield on 10-year U.S. Treasury notes, which have risen since early September, possibly in anticipation of tax cuts pushed by President Donald Trump and Republicans in Congress.

The Fed has raised short-term interest rates four times in nearly two years. That has contributed to pushing up mortgage rates to 4.32 percent last December, but the 30-year rate has mostly fallen since then.

Senate GOP tax bill would delay biz cut, undo deductions

Senate Republicans revealed the details of their sweeping tax legislation Thursday, including a one-year delay in plans for a major corporate tax cut despite strident opposition from the White House and others in their own party. Their bill would leave the prized mortgage interest deduction untouched for homeowners in a concession to the powerful real estate lobby but would ignore a House compromise on the hot-button issue of state and local tax deductions.

On the other side of the Capitol, the House Ways and Means Committee approved its own version of the legislation on a party-line 24-16 vote, amid intense political pressure on the GOP to push forward on the first major rewrite of the U.S. tax code in three decades. It's President Donald Trump's top priority and a goal many Republicans believe has grown even more urgent in the wake of election losses on Tuesday that displayed an energized Democratic electorate.

Yet as the Senate Finance Committee unveiled its bill, a few stark differences emerged with the version approved by the House tax-writing committee, underscoring the challenges ahead in getting both chambers to agree on the complex and far-reaching legislation that would affect nearly every American.