You've probably heard the phrase "Web 2.0". You may've even read some of the various definitions of it. And Web 2.0 does appear to mean different things to different people, so you would be forgiven for still feeling confused about the term.

Here are some of the definitions of Web 2.0 floating about:

Web 2.0 = the web as platform

Web 2.0 = the underlying philosophy of relinquishing control

Web 2.0 = globalization ("making global information available to local social contexts and giving people the flexibility to find, organize, share and create information in a locally meaningful fashion that is globally accessible")

Web 2.0 = an attitude not a technology

Web 2.0 = when data, interface and metadata no longer need to go hand in hand

Web 2.0 = action-at-a-distance interactions and ad hoc integration

Web 2.0 = power and control via APIs

Web 2.0 = giving up control and setting the data free

Web 2.0 = Trulia Voices, Amazon, Blogs, MySpace, Facebook, LinkedIn, YouTube and Flickr

While at first glance some of those definitions may be contradictory, we can distill from them certain characteristics of Web 2.0.

Web 2.0 is social, it's open (or at least it should be), it's letting go of control over your data, it's mixing the global with the local. Web 2.0 is about new interfaces - new ways of searching and accessing Web content. And last but not least, Web 2.0 is a platform - and not just for developers to create web applications like Gmail and Flickr. The Web is a platform to build on for educators, media, politics, community, for virtually everyone in fact!

Web 2.0 is all of the above things - don't let anyone tell you it's one or the other definition.

Take a look at what the education community is doing with the Web, for example. They are not only starting to use the tools of Web 2.0 - blogs, wikis, podcasts, etc. They're also adapting to a new generation of kids who are growing up on the Web, the so-called ‘Digital Natives'. The challenge for educators now and for the future is to learn and teach Internet literacy, converse and collaborate with their students using Web tools, and help our children make sense of the huge amounts of information and media that surround us.

Web 2.0 is about the people, when it comes down to it. So it has to be inclusive. The definitions of technologists, social scientists, web designers, philosophers, educators, business people, anybody - they all count

If you've been following the financial news, you've probably heard that the Fed's been buying Mortgage Backed Securities and will continue to do so as needed. Unfortunately, some media outlets have picked up on the news and mistakenly reported that these purchases will continue to cause rates to drop lower into the summer.

But is that really what it means?

No. Bottom line: The Fed's purchase of higher rate coupons will not necessarily help rates to move lower, as their actions do not impact the loans being originated at today's low rates. The Problem Is...Many consumers are in situations where they can purchase or even refinance now and save hundreds of dollars a month on their mortgage payments. But when they hear the media throwing around teases of lower rates ahead, they decide to hold off on making the decision to save, in the hopes of gaining a few more dollars of savings per month if a lower rate came their way. Of course, while they're waiting, rates could turn higher - and this window of opportunity could pass them by entirely.

Las Vegas and Henderson Homes are on sale, sellers are motivated, and interest rates are at historic lows...but may not stay that way, which means it makes sense to get moving on that home purchase or refinance you've been contemplating. But if you are among the smart individuals who are going ahead and taking advantage of the low home loan rates to be had right now, there are a few things to be aware of.

With interest rates at record lows, all lenders in the US have recently seen a sharp increase in loan applications - right at the time that many lenders have cut headcount to save money in a challenging economy. This means that timeframes needed for underwriting, approvals and closing have become longer than normal. Some companies have chosen to actually raise rates just to slow down the volume to a manageable level. Sound crazy? No crazier than when you go to buy that hot new vehicle...only to find that there is no price negotiation. In fact, you wind up lucky to just pay the sticker price, as the demand usually allows the Dealer to add a markup to the price. And you don't get the car right away; you have to wait on a list for your turn to come up.

Right now, home loans are like that hot new car - but with the timer ticking on interest rates locks, there are a few things you can do to protect yourself. First, longer lock in time frames than might normally have been considered are a necessity, to ensure that the file has time to be processed, underwritten, approved and closed in time to protect the rate lock in this extremely volatile climate. And that longer, safer lock-in period may be a bit more costly - but it's money well spent. Overall, the mind set here should not be one of greed. Don't try to squeeze every last drop out of rates. If you are within a quarter percent of the lowest rates offered in the history of this country, you did very well. And rates always shoot up higher at a much faster pace than when then dip lower. So if the savings or opportunity makes sense - grab it. Next, responding quickly to requests for information or documentation is important - the faster the file is submitted and approved, the better off we are to keep that great interest rate protected.

Finally, be aware that it may be a smart idea to pay points to gain the best interest rate - and sometimes is even necessary in today's market. Giant mortgage buyers Fannie Mae and Freddie Mac have recently imposed more "risk-based pricing adjustments", meaning that even credit scores and loan to values which in the past would have been considered very low risk, may now be subject to mandated fees by Fannie and Freddie. And based on the way lenders have changed their rate sheets over time, there is now very little "premium pricing", which used to allow options for fees like these, points or other closing costs to be covered in return for a slightly higher interest rate. Right now is still an excellent time to act, before the great low rates of today get away from us. But let's be smart - call me for information on how we can get started right away.

To move the country out of this economic crisis, Congress and the next administration must place significant emphasis on restoring confidence in the housing market. The housing sector is at the core of the current economic crisis. A renewed, revitalized and robust housing market is essential to generating commerce and helping families build wealth. To this end, Chairman Barney Frank, D-Mass., on H.R. 384, introduced the TARP Reform and Accountability Act, last week. The principle focus of the plan is to ensure that the Troubled Asset Relief Program does what it was originally intended to do – end the credit crisis and jumpstart mortgage lending. It is imperative to get TARP back on track by targeting funds for mortgage relief, which will help lower mortgage rates and reduce foreclosures. Low interest rates are only effective if people can get a loan. Every day even some home buyers with good credit are having trouble getting mortgage loans. We must unclog the housing and financial system; Congress needs to use current TARP dollars to help identify and fix operational issues that are preventing consumers from getting or modifying home loans. These are critical steps that must be undertaken quickly if we are to right our nation’s housing and financial markets.