Morning Minute: Housing market will thrive even with higher rates, economist says

Housing growth will continue to be a powerful driver of economic growth even if the Federal Reserve pulls back and mortgage rates rise, CIBC World Markets chief economist Avery Shenfeld told CNBC in the interview, “Economist: Housing Will Thrive After Fed Exit.”

“Mortgage availability actually remains very, very tight,” Shenfeld told CNBC. “I think that as the mortgage market recovers, which it will with recovering consumer credit, we’ll get more support from mortgages for the housing rally in 2014, even if mortgage rates are in fact higher than they have been—because mortgage availability will be that much better.”

More headlines:

Realtors act as ‘lifesavers’ for short-sale sellers – HousingWire

Will higher mortgage rates kill the housing market? Maybe not! – Washington Post

 

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About Stephanie Sievers

Stephanie Sievers is Senior Editor for the Illinois Association of REALTORS®. She serves as Senior Editor for IAR publications including the Illinois REALTOR® magazine and all other IAR publications. She is responsible for developing content for the Illinois REALTOR® Weekly Connection e-newsletter, coordinates the IAR Twitter account content at ILREALTOR and plans and develops content for videos. She assists in developing and writing content for the IAR blog. She also is involved in researching and drafting news releases and coordinates the news media distribution database and newsclips reports for the Association. She also assists in IAR spokesperson training seminars and is involved in development of association briefing materials on issues. She assists with the housing statistics program and reports.