MBA Head David Stevens on rate spike, mortgage interest deduction

Below is a good CNBC interview with MBA head David Stevens from Monday, June 17. His comment that “all bets are off when it comes to the Fed” was proven true Wednesday when the Fed gave their first explicit signal about trimming QE buying (aka low rate stimulus). Stevens also addresses what the appropriate level of the mortgage interest deduction should be (starting at 3:45)–when the mortgage industry’s frontman in Washington talks taxation, take note…