House Financial Services Committee Say Mortgage Costs Will Be Slightly Higher

Reforms are under way in the US house market but here is some news from U.S. Treasury Secretary Timothy Geithner.

House Financial Services Committee

Here is what he had to say – quote – that future mortgage costs likely will be “modestly higher” after reforms are completed to the national housing finance system. More – Testifying before the House Financial Services Committee, Geithner said it will take some years to complete an overhaul of the system and to wind down Fannie Mae and Freddie Mac but said it was important for lawmakers to begin the effort.

The House Financial Services Committee has jurisdiction over all issues pertaining to the economy, the banking system, housing, insurance, and securities and exchanges.

‘It is hard to have any confidence in what U.S. Treasury Secretary Timothy Geithner has to say!

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