Technologies

Waiting for a Recession to Buy a Home? This Realtor Weighs In

Here are the most important things to know about mortgage rates during an economic downturn.

The economy’s been all over the place lately. Inflation might be coming down, but rising tariffs, stock market dips and global uncertainty are keeping everyone on edge. With mortgage rates bouncing around, homebuyers are asking me, Will housing become more affordable in a recession?

After more than 20 years in real estate, I’ve seen my share of ups and downs, from boom times to full-blown crashes, like 2008. The truth? There’s always opportunity, even in a downturn. The market doesn’t stop during a recession. It just shifts. And if you’re ready, that shift can actually work in your favor.

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Let’s break down what a recession really means for mortgage rates, home prices and your opportunity to buy a home.

Is a recession on its way?

There are plenty of recession warning signs right now. Layoffs are picking up, GDP is slowing and consumer confidence has dipped. Paychecks aren’t going as far, and retirement accounts are taking hits.

While less disposable income and tighter budgets point to a general slowdown in the economy, technically, we’re not in a recession. Not yet. It would take two consecutive quarters of negative GDP growth to hit that definition. But for a lot of folks, it already feels like one.

High prices and inflation aren’t the same thing. Even if the inflation rate isn’t going up, the cost of everyday goods and services is still high, and budgets are getting hammered. When folks feel the squeeze every time they swipe a card at the grocery store, it shapes how they think about making huge purchases like a home.

Will the Fed cut interest rates?

Borrowing costs have been expensive for the last several years, making households and businesses wary about taking out loans. The Federal Reserve will probably cut interest rates again later this year, eventually making financing cheaper.

But those cuts won’t come for a while. The Fed’s a bit stuck right now. The economy’s losing steam and inflation is cooling, but not fast enough. The central bank is being cautious about shifting policy, especially with tariffs driving prices back up.

Though lower interest rates will eventually impact the housing market, the Fed doesn’t directly control mortgage rates. Mortgage rates move based on many factors, such as the bond market and investor expectations. Even when the Fed starts cutting rates again, don’t expect mortgage rates to drop like crazy. Many of those expected cuts are already priced into the market.

Will mortgage rates drop in a recession?

Mortgage rates often fall during an economic depression, as we saw recently in 2020 and earlier in 2008. Lower rates help boost the economy, and the Fed knows that.

But this time around, things are messier. There’s volatility everywhere. Even though rates could drop, they might also shoot back up with any good economic news. Like many experts in the real estate industry, I think average rates for a 30-year fixed mortgage will hover between 6.5% to 7.25% for most of 2025, with weekly jumps and dips in that range.

If you’re holding out for 4% or 5% mortgage rates, you may be waiting longer than you’d like. It’s going to take far more negative economic news to see rates fall in a big way.

It’s also worth pointing out that your personal financial situation matters more than your interest rate. If you’ve got a solid stream of income and a long-term plan for paying off a home loan, waiting for a perfect rate might not be worth it.

Will home prices go down in a recession?

Home prices are the big question. And the answer is… they won’t likely go down in a big way.

Historically, home prices don’t fall much during recessions. The 2008 housing crash was the exception, not the rule. What we’ll probably see is slower appreciation or small dips in certain markets, especially in areas hit by higher insurance costs, taxes or natural disasters (Florida, Texas and Louisiana come to mind).

But nationwide, we’re still dealing with low inventory. Until that changes, it’s hard to see prices dropping dramatically. Plus, given high construction and labor costs, it’s clear home prices aren’t falling off a cliff anytime soon.

Is it cheaper to buy a home during a recession?

If you’re financially stable, it could be cheaper to buy a home in a recession. You might find better deals, less competition and more negotiating power. But if lending tightens, getting a loan could get tougher. That’s something we’re already starting to see with condos and certain types of properties.

And don’t overlook the «wealth effect.» When people feel wealthier, like when their stock portfolio or home value is up, they’re more confident making big purchases.

But when those numbers start to slide, or there’s even a threat of job insecurity, even if nothing’s really changed day to day, people pull back. That affects buyer activity in a big way. If someone just lost $20,000 in their 401(k), they’re not rushing to get a new mortgage.

What’s the best time to buy a home?

The best time to buy a home is when it makes sense for you. If you’ve got a steady income and strong credit, and you’re ready to settle down, a recession could actually work in your favor.

Just don’t wait around for some magical «perfect time» to take out a mortgage. The green light most people are waiting for doesn’t exist. But if you prepare, stay informed and work with the right team, you can make a smart move no matter what the economy’s doing.

Technologies

Fable Reboot Set for Fall 2026 as RPG Franchise Debuts on PS5

It’s a big world where you can do almost anything you want.

Microsoft held a Developer Direct on Thursday to focus on just a few games coming to the Xbox platform this year. One of the titles shown was the return of a once-dormant series.

Fable is a longtime Xbox exclusive that started back in 2004, and it’s been more than a decade since the last entry. Developed by Playground Games, best known for the Forza Horizon series, this new Fable game will expand on the roleplaying mechanics of the original to create an experience where players’ choices affect the world.

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When does Fable come out?

Fable is set to be released in autumn 2026.

What platforms will Fable be released on?

Fable is currently planned for PC, Xbox Series X and S consoles and PS5. This marks the first time the franchise will be available on a PlayStation. A Switch 2 version is reportedly under consideration.

Will Fable be available on Xbox Game Pass?

Yes. Fable will be a Day 1 release for Xbox Game Pass, meaning subscribers will be able to play for no extra cost on the day of release.

What is Fable?

Fable is an RPG franchise that started back in 2004 on the original Xbox. The concept behind the game, originally developed by famed developer Peter Molyneux and Lionhead Studios, was a world that would react to the player’s actions, whether it’s people shocked by the character’s evil deeds or individuals holding grudges for years over something the player did.

The last mainline entry of the Fable franchise came in 2010 with Fable 3 for the Xbox 360. There were multiple spinoffs since then, such as Fable Heroes, Fable Fortune, Fable Coin Golf and Fable: The Journey.

What’s the story of the new Fable?

Like with other Fable games, this new entry starts with the hero as a child. At some point early on, their hero powers emerge and, after a time jump, they become an adult. Where the hero goes will be up to the player, as there is no set path to take once they leave their village, where, one day, the inhabitants turn to stone.

The developer says there are more than 1,000 NPCs with their own personalities and routines, and that every town is functional, down to the exact number of beds for all the townfolk. Characters have jobs and their own schedules, which adds an extra dimension to these typically mundane, background characters.

Players can progress right through the story, or they can just live in a random town and stay there for as long as they want.

What kind of choices will players be able to make in Fable?

There will be plenty of decisions to make in Fable, from buying a home, getting a job or romancing a villager. Players can start a business, hire villagers to work for them, or buy property to rent out.

Every decision made earns the hero a reputation, such as being a rich tycoon, and villagers will have their own unique reaction to that reputation. This means not every character will view your character the same way. There will also be choices made that can affect the world.

One example the developer noted was a character who developed a magic potion that could change a person’s size. This character will eventually grow into a giant, and depending on the player’s decision, can die outside of the village. Leaving the giant’s body there can provoke reactions from the townfolk, including a drop in home prices.

Technologies

Google Photos Adds AI-Powered Meme Creation With ‘Me Meme’

Meme it up with photos of your cat, or your friend, or whatever funny photos your camera roll holds.

Do you have a great cat photo you just know could go viral? Google’s new AI feature, Me Meme, lets Google Photos turn photographs into memes, those sassy captioned photos that sometimes express the exact right sentiment. Choose a Google template, then upload your own funny photo, and AI will transform it into a meme.

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To use Me Meme:

On your device, open the Google Photos app.
At the bottom, tap Create and then Me Meme.
Select a template.
Tap Add photo.
Select the photo you want to upload.
Tap Generate.
After the meme is generated:

To save the meme: Tap Save.
To generate again: Tap Regenerate.
To share on other platforms: Tap Share.

I have a Google Pixel 9, and while my Photos app is up to date, the option didn’t appear for me as of Friday.

At CES 2026, Google executive Sameer Samat told CNET that the company wanted to make its AI tools, including Nano Banana and Gemini, more useful. While meme-making might not be the most practical AI use, it is something anyone can try.

A representative for Google did not immediately respond to a request for comment.

Technologies

Today’s NYT Connections Hints, Answers and Help for Jan. 24, #958

Here are some hints and the answers for the NYT Connections puzzle for Jan. 24 #958.

Looking for the most recent Connections answers? Click here for today’s Connections hints, as well as our daily answers and hints for The New York Times Mini Crossword, Wordle, Connections: Sports Edition and Strands puzzles.

Today’s NYT Connections puzzle is a bit challenging, especially the purple category, as always. Read on for clues and today’s Connections answers.

The Times has a Connections Bot, like the one for Wordle. Go there after you play to receive a numeric score and to have the program analyze your answers. Players who are registered with the Times Games section can now nerd out by following their progress, including the number of puzzles completed, win rate, number of times they nabbed a perfect score and their win streak.

Hints for today’s Connections groups

Here are four hints for the groupings in today’s Connections puzzle, ranked from the easiest yellow group to the tough (and sometimes bizarre) purple group.

Yellow group hint: Think Muhammad Ali.

Green group hint: We won!

Blue group hint: Fashion element.

Purple group hint: Winter weather.