Have you heard that saying before? It comes from the great Yogi Berra. He explained that this quote originated when he witnessed Mickey Mantle and Roger Maris repeatedly hit back-to-back home runs in the Yankees’ seasons in the early 1960s.
The deja vu’ right now is the big news of the week that Senators Tim Johnson and Mike Carpo, two key leaders (one Republican and one Democrat) in the Senate Banking Committee, announced new legislation aimed at winding down Fannie Mae and Freddie Mac.
I feel like it is deja vu’ all over again. This legislation is quite similar to the Corker-Warner bill from the summer.
I want to believe in this but I’m just not sure if this is any different than what’s been going on over the past five years.
The good news….
– It preserves the 30 year fixed rate mortgage.
– It allows for 5% down payments.