|The increase in mortgage rates over the past year has been an unwelcome surprise for many would-be RCFE and ARF buyers. Add to that the continuing talk of a looming recession, and many wonder whether they will be able to purchase an RCFE or ARF anytime soon.
But what actually happens to mortgage rates during a recession? Surprisingly, and perhaps, counter-intuitively, mortgage rates tend to FALL during a recession. The larger the increase in rates PRIOR to the recession, the more rates tend to fall.
|What a recession really means for the housing market is falling mortgage rates. That’s because, historically, each time the economy slowed down, mortgage rates decreased. Please don’t hesitate to contact Michelle London at 949-397-4506 so I can share all the reasons why you don’t need to fear what a recession means for the housing market.
Michelle (949) 397- 4506 michelle@RCFEresource.com
Melvyn (949) 500-3630 melvyn@RCFEresource.com