I'm happy to.
When you engage in QE, you're buying government bonds. That pushes their prices up, which lowers the yield on those bonds, and yes, as you suggested, if you lower the.... Government bonds are the benchmark that everything else is priced on, and as I responded in my earlier answer, QE contributed, along with the other monetary measures we took, to lower mortgage rates, which did support the housing market.
When I said there was no direct...what I meant was there's no quantitative.... Banks don't need our settlement balances to make mortgage loans. When we move to quantitative tightening, I can assure you that banks will still be making mortgage loans.