You can look at what I did in the Senate. I did introduce legislation to rein in compensation. I looked at ways that the shareholders would have more control over what was going on in that arena. And specifically said to Wall Street, that what they were doing in the mortgage market was bringing our country down.
Upon the farm of the uncle with whom I lived, we did know of the mortgage as some dreadful damper on youthful hopes of things that could not be bought. I do have a vivid recollection that the major purpose of a farm was to produce a living right on the spot for the family.
In the first phase of shock over, say, your mortgage being called in or your job washed out, it's essential to engage with others and share the fear, release the feelings, do fun things to take your mind off it.
Well, we're just now seeing the reductions in mortgage rates. The mortgage rates are based on the ten-year rate and the Fed controls the overnight or the shorter rates.
We think if the economy remains weak that we could see mortgage rates trail down and we think that we could see rates below seven percent into early next year.
Right now we think that rates will stay low, that you'll be able to get a mortgage below seven percent and that's kicked off a refinance boom that's going to put more money in the pockets of consumers.
They flooded liquidity in the marketplace but the mortgage rate is based much more on expectations of inflation. So if the average investor believes that there is inflation coming, they'll move that rate up.
In acting, every day is different, and I guess it appeals to my storytelling imagination. But I've been very fortunate to get the chance to do what I want to do and earn a living from it to pay the mortgage.
I'm very interested in the more grass-roots consequences of the economic meltdown: issues related to mortgage foreclosures, debt collection, and the practices of credit card companies and others who hold a lot of consumer debt.
You can't sing about the same things as you did when you were 20; it would be ridiculous to sing about, I don't know, being in the quad. You can't really write about mortgage payments or stuff like that... but you can talk about 'let's make the world a better place.'
I had a couple come in with a negative amortization mortgage on a house that costs way too much relative to their income. They're consuming real estate, not investing in it.
Analysts say that one reason Fannie Mae and Freddie Mac were privatized in the first place was to prevent political whims from dominating the mortgage marketplace.
