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Tom Kelly
Tom Kelly
The Real Estate Adviser
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January 12, 1996

THE REFINANCE QUESTION -- AGAIN

By TOM KELLY
The Real Estate Advisor

Do we always need to pay attention to home-loan rates or does it just seem that way? Since The Tax Reform Act of 1986, typical consumers and small investors have become more interested in the cost of borrowing home money because mortgage interest is one of the few -- albeit overrated -- federal tax deductions remaining. That one law phased out the deductibility of consumer debt interest, sparking the end to the popularity of boat loans and car loans.

Now, we find interest rates on home loans at a two full percentage points below the market of a year ago. Is it really time again to consider a refinance your home or investment property -- a move you told yourself you would never attempt again?


 
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