How relevant is the number "30" in our culture? It turns out, a lot. For example:
One of the most famous addresses in America is 30 Rockefeller Center.
- Major League Baseball, the NBA, and professional hockey each have 30 teams.
- The minimum age to become a U.S. senator is 30.
- The total number of major and minor keys in music is 30.
- Of course, the number 30 is significant when it comes to mortgage finance, too. The 30-year fixed rate mortgage is the most popular, sound, and enduring mortgage available. In fact, it is the cornerstone of mortgage financing in the United States.
But legislation introduced in Congress would end a government guarantee in the secondary mortgage market, and that would mean that the 30-year fixed rate mortgage could cease to exist. Homeowners would no longer be able to tap into this safe, affordable form of mortgage finance.
Take a look at the video above which highlights the important role the number "30" has played in our culture, government, music, sports, and yes, mortgage financing.