Alexander Statement on Senate Rejection of Proposal That Would Lead to Higher Mortgage Rates

Posted on April 30, 2009

U.S. Senator Lamar Alexander (R-Tenn.) today released the following statement after voting against an amendment to the Helping Families Save Their Homes Act of 2009 that would have led to higher mortgage rates for millions of Americans: “This proposal would have made mortgages harder to get and, according to the Mortgage Bankers Association, increased mortgage payments for Tennesseans by $125 each month. Instead, the president and Congress should focus on making banks strong and getting credit flowing again so people can buy homes and get back to work.” The amendment was defeated in a bipartisan vote of 45 to 51.