What will mortgage rates do in a slowing economy?
I am right on the cusp of where it would make sense to refinance my mortgage. I already have a fixed 30 year at about 6 percent. If rates continue their decline it might make some sense to refi this baby and save around $100 per month or more. I guess I have two questions that relate to the mortgage market.How will a recession or even a slowing economy effect the mortgage rates?How does a reduction in the fed funds rate effect mortgage rates? I understand that mortgage rates follow more closely the 10 year treasury rate.
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