Sen. Mike Rounds (R-S.D.)
WASHINGTON, DC (KELO.com) — You could call it “trouble on the home front.” The Biden Administration is moving ahead with a plan to allow Freddie Mac to guarantee Second Mortgage loans to homeowners. Senator Mike Rounds calls that a big mistake.
Creighton University Economist Ernie Goss shares Senator Rounds’ concerns, and says this has been tried before.
Despite all of the concerns, Senator Rounds says stopping the move would be extremely difficult.
Some estimates say the move could release a trillion dollars into the economy this summer – fueling inflation that’s already too high. Higher inflation numbers would mean continued higher interest rates for borrowers.
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