NAHB Seeks Member Input on Modernizing the Mortgage Interest Deduction
With the 2017 tax cuts expiring at the end of 2025, one of NAHB’s key initiatives in the coming months will be fighting for our tax priorities as Congress addresses the upcoming tax cliff.
NAHB will host five online listening sessions with the membership to discuss next year’s federal tax debate. The listening sessions will provide an overview of NAHB’s 2025 tax strategy, with a focus on incentivizing homeownership.
We will seek input on modernizing the mortgage interest deduction by converting it into a tax credit, which could have a broad effect on the housing industry.
Members are welcome to attend the session specific for their region, which will include regional details, or the session that best suits their schedule. View NAHB’s regional leadership map to confirm your region.
Please use the appropriate registration form to secure your spot. (Member login is required.) Registration will close on Oct. 27 at 5 p.m. ET.
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The U.S. labor market rebounded in October, with nonfarm payroll employment increasing by 165,000 jobs and the unemployment rate declining to 4.1%. However, the improvement in overall employment contrasts with continued weakness in residential construction, where employment fell by 16,400 jobs, the largest monthly decline since March 2021.
New multifamily housing confidence weakened year-over-year in the third quarter, according to the Multifamily Market Survey (MMS) by the National Association of Home Builders (NAHB). The MMS produces two separate indices. The Multifamily Production Index (MPI) had a reading of 41, down five points year-over-year, while the Multifamily Occupancy Index (MOI) had a reading of 69, also down five points year-over-year.
Mortgage application activity declined in October as the 30-year fixed mortgage rate rose sharply again. The Mortgage Bankers Association’s (MBA) Market Composite Index, a measure of total mortgage application volume, fell 14.1% month-over-month in October on a seasonally adjusted basis. Compared to a year ago, total mortgage applications were 39.8% lower.