As the unofficial finale of Summer has passed with Labor Day in the rear view mirror, many are looking ahead and wondering what the rest of the year will hold in both the housing market and the economy. And before I get rolling too far down the tracks, I should start by saying that I am not a financial advisor, a mortgage lender nor am I qualified to give financial advice. I am however, as you may already know, a license REALTOR in the state of Vermont. There are a few websites and blogs I lean on when it comes to what is currently happening in the economy, and one that I find really helpful and easy to read is on MBS Highway.
Earlier this year, I attended a seminar where Barry Habib, a mortgage industry executive, spoke to a room full of real estate agents and mortgage lenders to discuss the current state of the economy and what to prepare for. It was a eye opening event and I was truly blown away by his expertise in this field. So I tend to check in on his blog every now and then to see what he has to say about the housing market and where mortgage rates are heading.
Now being the ethical journalism major that I am, I will refrain from plagiarizing what Barry’s blog wrote. But I am going to copy the link down below to the blog so that you can read it. I will also summarize briefly what history tells us to expect in the coming weeks and months.
Are we headed towards a recession? If so, how does that affect the housing market historically? Here’s what to look out for…
There are a few indicators to look out for when there is speculation of whether or not we are headed for a recession. A few of those indicators are
-Fed Rate Hikes
-Inverted Yield Curve
When we look at history, there are patterns that seem to always indicate when a recession is iminent. Make sure you click on the link to the blog post to see some great visuals of what these indicators look like.
And as always, if this article urges you to to either buy or sell real estate, feel free to reach out to me to discuss a plan that works for you.