Nick Fountain

They're secretly crying inside?

Yeah.

Yeah, she says new investors might be crying because rates are going down.

But for people like James, it's great.

Every little bit counts.

You keep saying geopolitical events.

What do you mean there?

She says mortgage rates went down a little after the White House announced Fannie and Freddie's plans and then went right back up a week after when Trump threatened tariffs on Europe over Greenland.

So short-lived relief.

Interest rates are fickle.

Yeah, what's the downside?

Yeah, when the government directs them to buy up mortgage-backed securities, those become effectively the problem of U.S.

taxpayers.

Susan says if this became a pattern and then something went wrong and the value of those mortgage-backed securities dropped, we might end up having to bail out Fannie and Freddie.

Sound familiar?

Did you watch Trump's Davos speech?

I did.

Did you see the part where he said, basically, a lot of Americans' wealth is in their houses and I don't want to crash the housing market.

I don't actually want to bring down prices.

Yeah, there's this weird tension here.