Last week the government injected $600 billion into the mortgage financing system to bring mortgage rates down and to try and boost home sales. It’s helping. Today, a 30-year, fixed rate mortgage is averaging just over 5.5%, down a half a point from a week ago. And now there’s a plan being discussed to bring mortgage rates down even further, so Betsy Stark is here tonight. Betsy.
Charlie, this economic crisis we’re in began with the collapse of the housing market, and many economists believe stabilizing the housing market is the key to getting us out of this crisis, but that will not happen until Americans once again believe that buying a home is a good investment.
If you want to buy a house in America today, there are more than 4.6 million for sale. "Everything looks really good in the kitchen." And as would-be homebuyers know, the prices on them keep dropping, down 21 months in a row, in 20 of the nation’s major cities. "I think people are just sitting on the fence going, 'I’m going to wait and see what happens. I don’t want to get into this yet.'”
Some say the fastest way to revive the housing market is for the government to lure back buyers. The Treasury Department is now considering a plan to lower fixed rate mortgages for homebuyers from 5.5% today to 4.5%. It’s a plan within its power, now that it controls Fannie Mae and Freddie Mac, which own or finance most of the nation’s mortgages. “My research suggests that as many as a million and a half to two and a half million people are likely to come into the housing market next year, if we were to see interest rates for new home purchases go down to 4.5%.
Just last week, after the Fed injected $600 billion into the mortgage market, mortgage rates fell almost a full percentage point, and that set off an avalanche of activity. Mortgage applications were up 112%, more than half of that homeowners looking to refinance at lower rates. “The Fed is keeping the financial system on life supportat the moment. You have to find a way to get the economy off life support, and helping mortgage-holders is a piece of it.”
Economists say a big drop in mortgage rates would certainly go a long way toward improving home affordability and persuading homebuyers who may be on the fence that now is a good time to buy, but any Treasury plan to force mortgage rates lower is unlikely to be implemented until the new President takes office. Charlie. Betsy Stark reporting again tonight.
※ get into ~ 1. (취미·책 등에) 열중하게 되다(to start enjoying something or become enthusiastic about it) ex. She's really getting into the Internet. 인터넷에 쏙 빠져들고 있다. 2. ~을 논하기 시작하다 (to begin to discuss something) ex. I don't think we have time to get into that now. 3. <좋지 않은 상황에> 빠지다 (to become involved in a bad situation) ex. I don't want to get into an argument with him. ex. Those kids are always getting into trouble. 4. 어떤한 일이나 활동에 들어가다 (If you get into a particular kind of work or activity, you become involved in it.) ex. He was eager to get into politics. 그는 정치에 입문하기를 열망했다. 5. <습관 등이> 몸에 배다 (to start doing something regularly in a particular way) ex. Try to get into the habit of drinking a glass of water every hour. * what's gotten into someone? (used for asking why someone is behaving in an unusual or annoying way) ex. What has got(ten) into him today? Why is he behaving like this? 그사람 오늘 무슨 일이야? 왜 이렇게 굴지?
※ were to 가정법 : 원래는 순수가정 (실현가능성이 없는 가정) 이지만 현대에서는 실현가능성이 적은 가정에 보편적으로 잘 쓰임. ex. Even if the sun were to rise in the west, I would never change my mind. ex. If you were to attend the party, what would you wear? 만약 네가 그 파티에 간다면 뭘 입겠니? ex. This entire area is absolutely littered with mines. If my cameraman and I were to carelessly wander onto the other side of that rock, that could be our first mistake and our last. (이 지역 전체가 지뢰 투성이다. 카메라맨과 내가 부주의로 저 돌 건너편으로 배회하게 된다면 우리는 마지막이 될 것이다.)
inject : 주사[주입]하다 ex. inject medicine into a vein = inject a vein with medicine 정맥에 약을 주사하다 mortgage : 저당, 주택 융자, 모기지, ~ 을 저 당하다 ex. hold a mortgage on a person's house 의 집을 저당잡다 / ex. The estate is mortgaged. 그 대지는 저당이 되어 있다. * take out a mortgage 모기지융자 받다 fixed rate : 고정 금리 housing market : 주택시장 stabilize : 안정시키다, 안정되다 key : 열쇠, (획득·해결 따위의) 수단, (성공 따위의) 비결, 중요한 ex. the key to success 성공의 비결 ex. Diet and relaxation are two important keys to good health. for sale : 팔려고 내놓은 ex. This is not for sale. 팔려고 내놓은 것이 아 니다. * on sale : 판매되고 있는, 할인판매되고 있는 ex. Tickets for the performance are on sale at the box office. 매표소에서 판매되고 있다. ex. He bought a sports jacket on sale at the store. 세일하고 있는 스포츠자 켓을 샀다. * go on sale : 1. 판매에 들어가다, 2. 할인판매에 들어가다 ex. A car that can park itself without the driver having to touch the steering wheel went on sale in Japan yesterday. ex. They were too expensive, so I will wait for them to go on sale. 너무 비싸서 할인 판매까지 기다릴 것이다. would-be : ~이 되려고 하는, 지 망의 ex. a would-be author 작가 지망자 / ex. would-be diplomats/lawyers in a row : 잇따라, 연속적으로 ex. arrange chairs in a row[two rows] : 의자를 한 [두] 줄로 늘어놓다 sit on the fence : 중립적인 태도를 취하다, 관망하다 ex. He's not afraid of making decisions and is a man who never sits on the fence. revive : 소생시키다, 소생하다 lure : 사람의 마음을 끄는 것, 유혹물 (enticement), 미끼 (decoy), ~ 을 유인하다 , 꾀어들이다 Treasury Department : (미)재무부 now that : ~ 이므로, 이제 ~ 이니까, ~ 한 이 상 ex. Now that the war is over, there is a lot more food in the stores. ex. Now that I think about it, it makes sense. 생각해보니 그것 말되네 (이 치에 맞네). set off : (폭탄.화약 등을) 폭발시키다, (알람 따위를) 울리게 하다, ~ 을 촉발시키다 avalanche : [ 눈·토사·암석 따위의] 사태.[사태처럼] 갑자기 쏟아져 내리는 것, [우편물·질문 따위의] 쇄도. * an avalanche of questions 빗발치는 질문. look to ~ : ~ 쪽을 보다, ~ 할 것을 기대하다, ~ 에 기대를 걸다, ~ 에 마음을 쓰다, ~ 하려고 노력하다 ex. I did not look to meet you here. 널 여기서 만날 줄 몰랐다. * look to someone for something : ex. They looked to the government for additional support. * look to someone to do something: ex. We're looking to you to advise us on how to solve the problem. * look to something : to direct your thoughts or attention to something: ex. The party needs to look to the future and forget its past problems. 미래를 지향하 고 ~ refinance : to replace one LOAN with another one on which you pay less interest * finance : 재정, 재정학, [pl.] 재원 (the money which a person or company has), 자본[자금]을 공급[조달]하다, [돈]을 대주다 ex. It is unclear where the finances will come from for this plan. life support : 생명 유지 장치 at the moment : 바로 지금, 바로 그때 go a long way : to be successful ex. I think his plan will go a long way. 그의 계획은 성공할 것 같아. * go a long way towards doing something : ~ 에 크게 도움되다 (to be very helpful ) ex. The money raised will go a long way towards providing essential food and medicine. * have a long way to go : 갈 길이 멀다, 해야할 일이 많다 * have come a long way : to have achieved a lot of things and made progress ex. Airline safety has come a long way in the past decade. implement : ~을 실행[실시]하다 take office : 취임하다 ex. The President takes office two months after the election.