Should there be a recession, here's how it may affect your finances and what steps you can take to protect yourself
Those questions are looming large for Americans after the Federal Reserve yet again raised rates to combat high inflation, and the latest gross domestic product report showed that the economy slowed for the second quarter in a row. But at the same time, the job and housing markets are still going strong, though they've cooled a bit.That's created a lot of mixed signals. The White House and other government leaders are saying the economy remains healthy.
For homebuyers, relative to the crushing frustrations of the past few years,"it will be a much better experience," he noted. While it will become increasingly expensive to take out a mortgage as rates rise, buyers will face less competition for each property. And when it comes to deciding whether to put in an offer,"they may have a couple of days to think about it instead of hours," Fratantoni said.
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