People are buying new homes, existing homes at record levels. And that just shows the underlying strength of the economy and the optimism of families that this is still a good time to buy a home even though interest rates on mortgages have risen substantially,
More Quotes from Franklin Raines:
And so Fannie Mae produces very strong results for investors in - when interest rates are high and when interest rates are low, in recession and during booms.Franklin Raines
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.
Franklin Raines
It creates a contrast between their ideas and ours. We are perfectly happy to be judged by that contrast.
Franklin Raines
When they had difficulties they've had a tendency to lurch to the right and out of the mainstream, and we hope that doesn't happen this time,
Franklin Raines
I think if you go beyond a year - if this continues into the system in the out years, I think there is a risk and that - that we could have a negative reaction in the bond market and that will offset the good that was attempted to be done.
Franklin Raines
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