Toll Brothers CEO: Changing mortgage deduction would discourage homeownership

Making changes to the popular mortgage interest rate deduction would be “very bad policy,” Toll Brothers CEO Doug Yearley told CNBC.

Industry sources told CNBC reducing the deduction is on the negotiating table as Republicans work to hammer out a tax reform package.

“I don’t think it’s going to gain traction,” Yearley said.

By Michelle Fox | CNBC

Making changes to the popular mortgage interest rate deduction would be “very bad policy,” Toll Brothers CEO Doug Yearley told CNBC on Tuesday.

Industry sources told CNBC reducing the deduction is on the negotiating table as Republicans work to hammer out a tax reform package.

“It would discourage homeownership,” Yearley said in an interview with “Closing Bell.”

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