How Much Higher Will Mortgage Rates Go This Year

With the Fed’s aggressive actions in raising rates to tackle inflation, economists are predicting that rates will continue rising for the remainder of the year. This is based on the dramatic rise of the 10 year Treasury yield over the last month to which mortgage rates are loosely tied. The …

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2024 Medical Expense Deduction Income (AGI) Limit

The IRS allows all taxpayers to deduct the total qualified unreimbursed medical care expenses for the year that exceeds 7.5% of their adjusted gross income (AGI), found on line 11 of Tax Form 1040. [Prior year updates] You are only allowed to deduct your medical/dental expenses if the total paid …

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40 Year and Interest Only Mortgages Going Away

Government sponsored/owned entities Fannie Mae and Freddie Mac have announced that they will no longer be purchasing certain mortgages as directed by their regulator and in compliance with the Consumer Financial Protection Bureau’s (CFPB) qualified mortgage (QM) and Ability-to-Repay (ATR) requirements. This is effective from Jan 10, 2014 and covers …

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