Trump, tax deductions
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The right to freedom of speech allows Trump to make demands of the Fed to his heart's content. But legally, he cannot compel the central bank to lower its benchmark interest rate. The Fed has the right to act independently, and its aim is to promote a healthy and stable economy by keeping inflation in check.
Reinstated mortgage insurance premium deductibility and a higher cap on state and local tax deductions could change whether homeowners claim these tax breaks.
Bill Pulte, director of the Federal Housing Finance Agency, on X: "Effective today, to increase competition to the Credit Score Ecosystem and consistent with President Trump's landslide mandate to lower costs, Fannie and Freddie will ALLOW lenders to use Vantage 4.0 Score with no current requirement to build new infrastructure [stays Tri Merge]."
The One Big Beautiful Bill Act is temporarily raising the state and local tax deduction to at least $40,000, up from $10,000, for the next five years. Now it’s up to taxpayers to see if they can take advantage of this extra generous write-off, which is often referred to as the SALT deduction.
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CNET on MSNMortgage Rates Likely to Creep Up as Trump Reignites Trade War: Today's Rates, July 8, 2025Another flurry of tariff announcements could spark volatility in the mortgage market leading up to the Fed's meeting later this month.
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Money Talks News on MSNYour Mortgage, Savings, and Credit Cards Caught in Trump-Fed Interest Rate BattleThe battle between the White House and Federal Reserve over interest rates isn't just political theater. Mary Trump issues warning on long-term impact of Donald Trump move Simon Cowell Stops ‘AGT' Audition,
The Trump administration announced Thursday that it has ended the major policy provisions of the Biden-era PAVE task force.
The FHA just loosened up—big time. The Department of Housing and Urban Development (HUD) recently rescinded multiple rules tied to FHA single-family lending—loosening appraisal standards, lifting some staffing restrictions for lenders,
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Money Talks News on MSNHomeowners: Time to Refinance? Mortgage Costs Drop As Fed Signals Potential CutsFederal Reserve rate cut expectations pushed mortgage rates down to multi-week lows at 6.67%. Financial experts say even small rate decreases can create meaningful monthly savings for borrowers.
President Trump told reporters on Tuesday that he plans to impose a 50% tariff on imported copper. “I believe the tariff on copper, we’re going to make it 50%,” Trump said, according to CNBC. Commerce Secretary Howard Lutnick later told CNBC that the new tariff could be put in place as early as the end of July.