An increasing number of Americans are worried about a potential recession, according to a recent survey. When the Federal Reserve met and reaffirmed its steadfast commitment to reducing inflation, those worries were reinforced. And in order to accomplish this, they would utilize their resources and power to weaken the economy.
This raises a lot of concerns and worries about how it might effect our daily life, our employment, and business in general. And one worry that a lot of Americans have is how this may impact the home market. We are aware of the effects that economic slowdowns have had on home values in the past; however, how might the upcoming downturn have an impact on real estate and the cost of financing a home?
Below is the chart that shows how the mortgage rates reacts during the recessions from 1980 to the present.
To know more about this topic, you may visit the link below:
Keeping Current Matters: What Does an Economic Slowdown Mean for the Housing Market?