- Jan 16, 2002
- Professional Status
- Certified General Appraiser
Story has implications for the real estate industry:
Most economists think that higher deficits help cause higher long-term interest rates by increasing competition for savings. Higher rates, in turn, would sharply curtail mortgage refinancing and cool a housing industry that has been among the economy's few strengths. Until growth picks up and private demand for investment capital strengthens, few economists expect interest rates to move significantly higher.