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 RainesSo from the housing standpoint, steady as you go, I think, would be the best medicine.
Franklin RainesThe automatic stabilizer is unemployment insurance, food stamps, additional coverage of Medicaid.
Franklin RainesWell, 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.
Franklin Raines