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Mortgage Interest Cap Made Permanent at 2017 Levels
Original: The $750,000 Mortgage Interest Cap Was Set in 2017, When the Median Home Cost About $320,000. OBBBA Made It Permanent and Never Indexed It
The $750,000 cap on deductible mortgage interest, set in 2017 when the median US home cost roughly $320,000, has been made permanent under the One Big Beautiful Bill Act without any adjustment for inflation or home-price growth. Critics argue the frozen threshold increasingly excludes homeowners in high-cost markets from a tax benefit originally aimed at middle-class buyers, while supporters note it preserves revenue.
Why now: Lawmakers recently made the cap permanent, reviting debate over whether a decade-old dollar limit still fits today's housing market.
One Big Beautiful Bill ActIRSUS housing market
Evidence
- The $750,000 Mortgage Interest Cap Was Set in 2017, When the Median Home Cost About $320,000. OBBBA Made It Permanent and Never Indexed It · 24/7 Wall St.
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