I just want, for purposes of emphasis, to ask my colleague from New Jersey to read that total again, assuming the savings with a 2-percent reduction in interest rates. This is for an average family owning a home with a 30-year fixed mortgage in your district in New Jersey, what would that savings be?
Questioning the impact of interest rate reductions on mortgage savings during a discussion.
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Clearly we need that kind of quantitative analysis, because obviously we have to assess the costs and benefits of what we are doing.
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