In a call sponsored by the Homeownership Alliance, the nation's top housing economists told financial analysts that the second half of this year will bring continued success for housing and home ownership in spite of higher interest rates. The economists participating on the call represent the charter members of the Homeownership Alliance: the Independent Community Bankers of America, Freddie Mac, Fannie Mae, the National Association of Home Builders and the National Association of Realtors. David Lereah, chief economist for the National Association of Realtors, explained that the rise in interest rates is an expected and necessary part of economic recovery. "The reason interest rates are slightly higher is that we are in a growing economy rather than dealing with inflationary pressures....
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