Mortgage Rates Historically Decline in a RecessionPosted by Larry Tollen on
According to Bankrate analyst, Greg Mcbride, two out of three economists are forecasting a recession in 2023, and many of our buyers are hesitant to make a move towards homeownership within a climate of economic uncertainty. However, the housing market and housing health in the Triangle area are not necessarily related to a recession. In fact, historically, mortgage rates decline during a recession, making it a better time to buy. Let's explore how mortgage rates and the economy have been related and how buyers can benefit from conditions.
Mortgage Rates and Recession
What is a recession? This is a period where the economy contracts, rather than expands. In the last six recorded recessions, 1980, 1981, 1991, 2001, 2008, and 2020, mortgage rates…
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