Rising mortgage rates are cited as one of the causes of a coming recession. When recession comes, to spur the economy, the fed will reverse course and decrease rates, in turn causing mortgage rates to also drop. So, is it better to buy now and refinance down the road? Or wait it out and buy later? I doubt that home prices will fall (ny/nj area) during that time, maybe just slow down to normal growth (3-5% per yr). Thoughts?

like
Posting as :
works at
You are currently posting as works at

I wouldn’t purchase a home unless the numbers work for it to be an investment property with the rates we have now. Maybe a multi unit or something where the numbers work. you can refinance down the line.

Can you explain to me why rising mortgage rates will cause a recession?

The increase in the federal funds rate in general is what’s going to be the main reason for a recession. All kinds of debt gets a lot more expensive to finance. Mortgage’s included. Because higher interest rates mean higher borrowing costs, people will eventually start spending less. Based on how quick and high the fed want to raise rates The demand for goods and services will then drop, leading over time to a recession.

I work in the residential mortgage lending business and we always say interest rates are a bad reason to buy a house. You should buy to live, invest, etc… not because rates are a certain place at a certain time. Also, you can always refi down the line and the market fundamentals make any sort of crash very unlikely in my opinion

Having been in Real Estate and Mortgage for the last 25 years, yes you should buy. Marry the house, Date the rate. I.E. The house will go up in Value, and rates will come down. When they do, refinance it. But don't bite off more than you can chew. make sure you can afford it.

Related Posts

Which agencies do the most animal health?

like

What's your best telemedicine story?

like

Hi all,
I am NIT silchar 2017 passout (Btech in electrical engineering ) then I went on to do mtech from NIT durga pur . I am looking for a entry level job as python developer / tableau devloper with the knowledge of SQL. I am presently working in a electrical company as a senior engineer. Please help

like

I have 6 YOE in SAP and total 10 years.
My package is very less i.e 9.5 I am planning for a change.
Can anyone guide me how much I can expect now.
I am planning to switch in SAP CFIN


Thanks

A parent of one of my students told admin she thinks it's irresponsible that I won't be grading over Christmas break. I let the students know to get any work they need graded in before the break and I'll get it to it during our workdays in January. Apparently that's not fast enough for her 🙄. Is it wrong that I'm sort of pissed off by this? Should I say something?

likehelpfulfunnyupliftingsmart

I’m mentally exhausted. I feel like my mental health is 💩 but still have put on a front like I’m a functioning employee when all I want to do is lay in bed do absolutely nothing.

like

Is there anyone I can connect with from Novartis ?

likehelpful

I want a dj36 but want a reason to celebrate. With wait times, is it worth putting my name down now? Can I back out if they get it in a year and I’m not ready

like

Curious what other opportunities are out there for licensed insurance agent in P&C, Health/Life/Medicare. No sales.

like

Know someone earlier in their HR career that’s looking to get certified. It’s been a while since I originally took the exams and have just recertified since. Which is more valuable or preferred these days…PHR or SHRM-CP?

like

tee higgins or tre'quan smith?

like

Anyone know manager 1 salaries in NYC for Tax (BTS)

like

Does Infosys revise the offer letter after accepting it??

Has anyone worked for NAC ( New Alternative for. Children)

Hyatt vs Marriott?

like

There is no linkage between excellent classroom-teaching and National Board Certification. In fact certified action writ large is something of a joke. Prove me wrong

Anyone can please share your experience with Global Logic

Hi Sharks,
Could anyone can confirm exactly how much monthly intake from the below CTC.
Stack: HPC
YOE: 6

Post Photo
like

I am taking series 79 soon, wondering how important is it I know all the dates? I know the major ones but I’m going through knopman and there are so many “xx must do xx within 10 days, 30 days, 40 days, 6 months” etc.

And names of every single rule (I can recognize all rules and explain them but… I had a question on knopman ask me if the answer was section 338(h)10 or 338(h)11. Could really use some insight if anyone has anything

like

Anybody here based in Asia?

like

Additional Posts in The Real Estate Bowl

What are the lenders that can provide mortgage pre-approval letters prior to starting the job? I’m a new hire moving to NYC, looking to buy a condo, but have no work history (went straight from undergrad-> PhD->new firm). The firm has a mortgage officer who can give me a letter 3 months prior to my start date, but still want to shop around for some rates.

like

Is there a calculation basis to use when looking at investment properties. Thinking of things like down payment, mortgage, property taxes, maintenance, expected revenue (how to calculate), etc etc to get an expected profit.

like

Is it worth it to go to 20% down payment (vs 10%) for a 0.625 drop in interest rate?

like

How much should a decently nice sectional cost? I found one I like, but it seems a little steep ($11,000). I’m used go shopping for cheap furniture, but I want something nicer in my condo now that I won’t be moving every year.

like

Anyone recently bought a home in FHA loan? Can you share the rate? Looking to buy multi family unit with FHA loan.

like

Our offer just got accepted and we are shopping around for lenders . Any lender recommendations in North Carolina? Any specific questions to be asked with the lender? We are first time home buyer . Any an all help is appreciated:)

like

Any good lenders in the Atlanta area? Would appreciate any recommendations

like

Hi everyone ,can you help me estimates the total cost of real estate large projects!

like

Is Frisco tx becoming a seller’s market? Not able to land on a deal at listed price - range 475 to 515k? Suggestions?

like

I am selling one of my cars for 25k cash and want to add it to my closing cost? Is this allowed, I close mid October

like

I have over 12 years in B2B sales/sales management experience along with a graduate degree. I am wanting to shift gears and I am at a point where I can invest time in myself to learn through practical experience. The new industry I am wanting to pursue is real estate investment. I have read all the books but want some hands on experience on the property management side. How could I best leverage my skills for a role in this, and what should my expectations be for negotiation in compensation?

Suggestions to streamline the application process for apartment rentals. I've been using zillow, Facebook, trulia, etc., to contact the real estate agent. I filled in the generic information including income, # of leasers' pets and I'm not getting many responses. My income does meets the 3x/4x requirements. I've tried calling as well and texting. I'm thinking I need to formally apply but each application has a fee for credit and background checks. Any suggestions to increase the responses.

like

Off market deals in Tampa Florida? Let me know! First time investor looking for a good opportunity

like

Buying a new construction single fam house in PA suburbs. Already Signed the contract and Looking for a lender with lower interest rate. Anyone come across comparable lower IR lenders? Any insight is appreciated! :)

like

Hey all, I'm aspiring to get into real estate, currently making good money for my age, around 50k gross starting in November. And I'm living off about half my income, is there anyone in the Dallas area that I can talk to that is a professional landlord so I can learn about how to get started? Pitfalls, traps, what to look for, etc.

like

I saw a place I really like and want to live in as my primary residence for a while. I don’t want to put 20% down, though. Is there any way for me to get this place if the current owner has it rented out until August 2022 without buying it as investment property?

like

Recently bought a house and spent a ton of money on my renovation… now I am cash poor… feeling uneasy at the moment…

like

How does wholesaling a property work? If you are buying a primary residence but life circumstances mean you can't really move into it, can you wholesale it? Do you talk to your lender about this or should I find a lawyer or something? Anyone done this?

like

At what income level should one be comfortable to spend 2400/mo on rent in HCOL? Assuming single, no kids, no debt or major expenses.

like

Thoughts on analytics platform like Mashvisor?

like

New to Fishbowl?

Download the Fishbowl app to
unlock all discussions on Fishbowl.
That was just a preview…
Sign Up to see all discussions
  • Discover what it’s like to work at companies from real professionals
  • Get candid advice from people in your field in a safe space
  • Chat and network with other professionals in your field
Sign up in seconds to unlock all discussions on Fishbowl.

Already a user?
Login here

Share

Embed this post

Copy and paste embed code on your site

Preview

Download the
Fishbowl app

See what’s happening in your industry
from the palm of your hand.

A phone with Fishbowl app

Send download link to your phone

OR

Scan your QR code to download
Fishbowl app on your mobile

By continuing you agree to Terms of Use and Privacy Policy.

Messaging rates may apply

Download app

Sign up for free to view this conversation on Fishbowl

By continuing you agree to Terms of Use and Privacy Policy

Already have an account? Log in

Sign up for free to continue using Fishbowl

By continuing you agree to Terms of Use(New) and Privacy Policy(New)
Messaging rates may apply

Already have an account? Log in

For account settings, visit Fishbowl on Desktop Browser or

General

Legal