Hope Leitner, Realtor®, CRS

  Foreclosures Housing Market Updates There’s been a lot of recession talk over the past couple of years. And that may leave you worried we’re headed for a repeat of what we saw back in 2008. Here’s a look at the latest expert projections to show you why that isn’t going to happen.   According  to Jacob Channel, Senior Economist at  LendingTree , the economy’s pretty strong: “At least right now, the fundamentals of the economy, despite some hiccups, are doing pretty good. While things are far from perfect,  the economy is probably doing better than people want to give it credit for .” That might be why a  recent survey  from the  Wall Street Journal  shows only 39% of economists think there’ll be a recession in the next year. That’s way down from 61% projecting a recession just one year ago ( see graph below ): Most experts believe there won’t be a recession in the next 12 months. One reason why is the current unemployment rate. Let’s compare where we are now with historical data from 

If you’ve been holding off on selling your house to   make a move   because you felt mortgage rates were too high, their recent downward trend is exciting news for you. Mortgage rates have descended since last October when they hit 7.79%. In fact, they’ve been   below 7%   for over a month now ( see graph below ): And while they’re not going back to the 3% we saw during the  ‘unicorn’ years , they are expected to continue to  go down  from where they are now in the near future. As Dean Baker, Senior Economist at the  Center for Economic Research ,  explains : “It also appears that mortgage rates are now falling again. They will almost certainly not fall to pandemic lows,  although we may soon see rates under 6.0 percent , which would be low by pre-Great Recession standards.” Here are two reasons why this recent trend, and the  expectation  it’ll continue, is such  good news  for you. You May Not Feel as Locked-In to Your Current Mortgage Rate With mortgage rates already significantly l