I really hope you are right, Scott. There seems to be so much confusion right now as to the state of the economy...Are we in recession?....Is inflation on the rise?  Are we entering a period of stagflation?..What is the most effective way to spark consumer spending?...Will the future interest rate cuts to be granted by the Federal Reserve halt recession, but at the same time ignite inflation? 

However, on a more positive note...notwithstanding an anticipated report that new housing starts are expected to show a drop to a 15 year low...
the slump in housing has caused mortgage interest rates to drop below 6% for 30 year fixed rate mortgages to 5.62%. Mortgage applications have risen for the 7th  straight week driven mostly by homeowners seeking refinances at the lower rates. Whether all of these applications will be accepted in light of the credit tightening is another matter.

On the other hand a recession may increase the demand for refinances as homeowners seek to reduce their monthly expenses and/or cash out some equity to relieve tough times. I know I am looking forward to an upswing in the litigation end of my practice. Law suits seem to escalate during recessions as plaintiffs struggle to collect debts from delinquent clients.to post a reply: login - or - register