On this episode of The Loans Elevated Podcast, Broch discusses if recession is looming. Broch states that economist can’t agree if recession is looming or not but what we are seeing blow up in the news is that 10 year treasury bonds and 2 year treasury bonds have inverted. This means that short term loans are now paying better returns than long term investments. Broch states that since the 60’s every time this has happened it has led to a recession within and around 12 months. Broch explains what this means for real estate, home prices and mortgage rates. Broch mentions that historically mortgage rates drop by around 30%-50% and states that we might even see mortgage rates drop back down into the mid twos which is so significant. Broch speaks about 2008 and how things are different now to then. In terms of real estate, in 2008 there was an oversupply of homes which stagnated when 2008 came which caused a massive undersupply of homes. Mortgage companies were qualifying home buyers and borrowers for loans that they were not qualified for. Broch states that mortgage companies have now corrected themselves and will only give loans to people who actually qualify for them. With regards to home prices, since the 60’s recession has almost always led to increasing home prices either during or right after the recession. The big take away from this episode is that there will never be a perfect time to buy a home but Broch highly encourages you to buy now and lock todays home prices in. Broch states that based on history we will likely see mortgage rates drops and that’s where you can bake in your savings through a re-finance which is very inexpensive and easy to do. If you would like more information and links to the resources Broch studies please reach out today!
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Hosted by:
📢 Broch Lassig, Branch Manager NMLS340314
📢 TJ Heidenreich, Sales Manager NMLS1802412
📢 Ryan King, Loan Officer NMLS1870771
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CrossCountry Mortgage, LLC. NMLS3029 (www.nmlsconsumeraccess.org)
🔹 Disclaimer: The information in this podcast is for educational purposes only and not a substitute for professional financial, legal, or tax advice. Always consult with a qualified professional before making financial decisions.
