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The work of Jana Harris is unique in American writing. She has always had a voice of true grit—sometimes harsh, sometimes funny, always close to the bone, tart, and indomitable.

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Franklin Raines

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.

Years, Mortgage, Economy, Fed, Controls, Reductions
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The automatic stabilizer is unemployment insurance, food stamps, additional coverage of Medicaid.

Economy, Food, Food Stamps, Medicaid, Stamps, Unemployment

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.

Interest, Lows, Mae, Results, Strong

We are shrinking the size of the federal government as a percent of our economy from over 21 percent of the economy to 19 percent of the economy. At the same time, we're growing the private economy.

Government, Growing, Same, Shrinking, Size

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.

Down, Gone, Home, Keeping, Track

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.

Able, Consumers, Pockets, Rates, Stay, Thinking
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