New year, new tax laws. With Congress' recently passed tax reform, here are five effects that might be seen by homeowners: 1. Mortgage Interest Deduction The mortgage interest tax deduction is touted as a way to make homeownership more affordable. It cuts the federal income tax that qualifying homeowners pay by reducing their taxable income by the amount of mortgage interest they pay. Beginning in 2018, the deduction is scaled back to interest on debt up to $750,000, instead

Some interesting information regarding increase in estimated mortgage payments for would be home buyers. According to Core Logic, national house prices have increased 6.2% annually (approx. 7.8% in Portland metro), but the MORE important statistic is that monthly housing payments have increased 11.1% due to appreciation PLUS interest rates. Mortgage interest rates are due to increase this year, so they are predicting another 11% increase in monthly housing payment. Full artic