Congress passed the much-debated two-month extension of the payroll tax cut just before leaving town for the holiday, and President Obama signed it into law shortly after.

The package keeps for two months the 2 percentage-point cut in Social Security taxes that employees pay, holding them at 2010's 4.2 percent, Professional Builder wrote. They had been 6.2 percent.

Congress balanced the ongoing revenue reduction by adding 10 basis points – 0.1 percent – for 10 years to the fees paid by banks that issue mortgages backed by Fannie Mae or Freddie Mac.

Because the deal only covers January and February, lawmakers will have to take up the matter again when they go back to Washington from their holiday breaks.