Recession & Mortgage Rates

leepez

Hi All,
With all news of late being said that a Recession is on it's way it's hard to turn a blind eye to it, as I really do not know exactly what a recession is all about.

Anyway, my 2yr fixed deal is due to expire at the end of the year, so if there was a recession, would new mortgage rates drop from what they are now or would they soar higher?

From what I can find on the net, when there had been a recession the bank of england base rate had dropped pretty low, so i guess a tracker rate that I would not be tied into would be best if this situation came around?

Any advice would be very much appreciated, as I guess I'm probably way off the mark

Lee

chipz

recessions occur to balance the long term economy. like saving, then spending. recessions basically are when government does the money saving and working class do the suffering (for the greater good