Today is Janet Napolitano's last day as Secretary of the Department of Homeland Security. Napolitano is leaving Washington D.C., heading for California, to become at the end of this month, president of the University of California System. NPR's Brian Naylor sat down with Napolitano yesterday for a look back at her tenure as head of one of the government's largest and most complex departments.
Saturday in Buenos Aires, Argentina, the International Olympic Committee will announce the host of the 2020 Summer Games. The committee is choosing from among Istanbul, Madrid and Tokyo. The contenders all have strong selling points, but each also has serious issues clouding its bid.
There is something new and different for home mortgages: Jumbo loans are being made at lower interest rates than traditional home loans. That's kind of like a first class airplane ticket being cheaper than riding in coach.
At first this seems crazy. For as long as anybody can remember, homeowners have had to pay a premium to get jumbo loans. That's because they're not guaranteed by the federal government. If they're not guaranteed, they're riskier, so they cost more in interest payments.