Housing Boom Set to Cool ; Sales Will Be Down but Not Out with Rising Mortgage Rates

The Columbian › March 25, 2005

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Summary

WASHINGTON Rising mortgage rates will cool but not crush a national housing market that is still relatively hot, one of the economy's consistently good performers.

That's the feeling among industry experts who have marveled over housing's vibrancy all the way through the 2001 recession as well as the economy's recovery. Powered by low mortgage rates, sales of both new and previously owned homes clocked record highs four years in a row from 2001 to 2004.

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Housing Boom Set to Cool ; Sales Will Be Down but Not Out with Rising Mortgage Rates

Sales are expected to slow this year as mortgage rates move higher. For now, economists are predicting the rate climb will be smooth, leaving t...

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