Game Change

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FINAL THOUGHTS "We won't know the immediate impact on the pop in mortgage rates for another couple months. However, we don't expect them to stall the housing recovery." Freddie Mac chief economist and VP FRANK NOTHAFT Final Thoughts The purported housing recovery is still hot news across the country. Here, what some in the know have to say about it. "Our bill will give the FHA the tools it needs to get back on stable footing and strengthen a program important to many Americans, and I look forward to working with the rest of the Committee to move this legislation forward."   SEN. TIM JOHNSON (D-South Dakota), unveiling the FHA Solvency Act of 2013 "With Director Cordray's confirmation, we will be able to say loudly, clearly, and with confidence:  the consumer agency is the law of the land and is here to stay." SEN. ELIZABETH WARREN (D-Massasschusetts) on Richard Cordray's confirmation as CFPB head 80 | THE M REPORT "Committee participants agreed in June that it would be helpful to lay out more details about our thinking regarding the asset purchase program . . . This agreement to provide additional information did not reflect a change in policy. FED CHAIRMAN BEN BERNANKE addressing speculation of a slowdown in bond purchases "The U.S. housing market was at the center of the financial crisis–yet today we are not modernizing the risk-weights on banks' mortgage loans." FDIC DIRECTOR JEREMIAH NORTON on the shortcomings of a newly proposed Basel III Interim Final Rule The recovery has reached full-fledged teenager status, with awkward, sudden growth spurts and parents—the Fed— who now threaten to take away its allowance by winding down measures that pushed mortgage rates down to historic lows." Trulia chief economist JED KOLKO

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