Government aid for US mortgages

[Chris Burford <cburford@xxxxxxxxxx>]

Gordon Brown and the British government have been looking enviably at
the US mortgage market where long term fixed mortgages play a part in
a mixed economy.

Mortages in the UK are almost all short term. Arguably fluctuations in
interest rates for national and international economic reasons, have a
big impact on a key electoral constituency, and in turn cause short
term swings in housing.

In the preview of a studiously academic report to be published in
London this morning, the BBC commentator noted that of course
there is government support in the US for long term mortgages.

What is this? and what is its murky economic and political history?

Thanks

Chris Burford
London