REALTORS Say Mortgage Interest Deduction Vital to Homeownership and Economy

The following is a statement by National Association of REALTORS® President Ron Phipps regarding their view of mortgage interest deduction and its effect on homeownership and the economy. “As the leading advocate for housing and homeownership issues, NAR firmly believes that the mortgage interest deduction (MID) is vital to the stability of the American housing market and economy.

“The MID must not be targeted for change. NAR is actively engaged on behalf of the nation’s 75 million homeowners and 1.1 million REALTORS® to ensure that the current deduction is not modified as was recommended in the Deficit Reduction Commission report.

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