If we head into a recession, what will that do to mortgage rates? Specifically 30yr fixed? Should i

If you look at 30 year fixed rates for mortgages they are very close to their low points. They are close to the low points in the last 30-35 years.

That being said, no one knows where mortgage rates or the economy are really going. Typically when growth slows the federal reserve bank (while considering inflation) will lower interest rates to spur growth. Lower interest rates spur businesses to invest and generate growth. That growth usually comes with some degree of inflation and the balancing act is to not let inflation get out of control while spurring growth.

The federal reserve took two relatively large steps recently... They are likely to want to see the effects of those before doing much more. Maybe there would be a couple more cuts, but I wouldn%26#039;t count on it.

Usually recession would lead to lower rates, and I%26#039;d argue that the fed did most of their cutting to head off this recession already. Rates are close to historic lows. Don%26#039;t use rates as a reason not to buy (use a more legitimate reason).

good luck!

ps - the housing situation with the foreclosures, etc., might be a reason to buy... or to wait...

If we head into a recession, what will that do to mortgage rates? Specifically 30yr fixed? Should i wait to bu

It all depends. If you can now is the time to buy because of the situation the mortgage lending is at its low times. If you can be comfortable with a purchase and are stable with income and find a home with built in equity I would go for it. Real estate is the best form of investing money and you will be a home owner with investing and obtaining wealth equity and in the end result you will be more secure. I you would like to go into more detail I would love to be able to help.