MORTGAGE REFINANCING UPTURN IS PREDICTED
The new tax law and the increasing use of adjustable rate mortgages could bring about an increase in home mortgage refinancing in the near future, according to an official of Draper and Kramer Inc., a Chicago mortgage banking firm.
“Consumers no longer can take deductions on interest for things like credit cards or loans for personal items like new automobiles or home improvements,” said Tom Adams, Hanover Park branch manager for Draper and Kramer.
