What to Do in a Recession? (Part 2) Refinance

Mortgage rates have dropped to their lowest point since 2005, closing last week at 5.87%. If you are running with a higher rate, refinancing could be a way to boost your cash flow during a recession. However, lending practices have tightened and it may be more difficult to qualify for this loan than in the past.

On another note, if you do not yet own a home, this is probably the perfect time to buy. Not only are interest rates low, but home prices are also falling. Just make sure not buy too much house, otherwise you could put yourself in a situation of financial crisis.