homeWelcome, sign in or click here to subscribe.login
     


 

 

Real Estate


Tom Kelly
Tom Kelly
The Real Estate Adviser
Subscriber content preview

March 10, 2000

Economist for NAR dusts off his crystal ball

By TOM KELLY
The Real Estate Advisor

When long-term interest rates ticked below 8 percent for the first time since Jan. 16, I thought it would be a good time to track down one of the nation’s top prognosticators. James F. Smith, the chief economist for the National Association of Realtors, had predicted that 8 percent would be "the line of death" for home-loan rates this year, yet we got to that mark in a hurry in 2000 and stayed there. Not only did we hit his predicted ceiling early but we also never got close to the 6.5 plateau that he predicted for 30-year, fixed rate loans late last year.


 
. . .


To read this story in full login or purchase a subscription.



Previous columns:



Email or user name:
Password:
 
Forgot password? Click here.