Costs, Benefits of 30-Year Fixed-Rate Mortgage Debated at Senate Hearing

摘要

The costs and benefits of the 30-year fixed-rate mortgage, along with the role of the government in its preservation, were debated by witnesses at an October 20 Senate Banking Committee hearing. Advocates contended that the 30-year loan plays a key role in promoting homeownership, especially for lower-income and minority families, and that continuing government support is needed.