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.

And so the danger for the housing industry is if we see interest rates rise.

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.

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.

That is - the reason for that is that home prices are only going to go up. Now, they've never gone down nationwide in our - since we've been keeping track of this.

So from the housing standpoint, steady as you go, I think, would be the best medicine.

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.