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To: Perspective who wrote (203059)	11/7/2002 10:36:08 AM
From: Perspective	Respond to of 436258

What does that say about where the housing market would be without the Fed backing? Right now, mortgage rates have tracked treasuries lower as people use them as a "safe" way to chase yield: economagic.com economagic.com Take away the government backing of Fannie and let the market evaluate just how risky Fannie is and you get: economagic.com or economagic.com Result: no transmission of Fed action into the economy. If the Repubs decide to take on Fannie now that they want to flex their muscles, the derailment will be immediate. BC