Americans Cautious on Spending Despite Improving Recession Outlook

Many Americans are preparing for a recession despite signs the economy will avoid one, per surveys. Some are monitoring spending and limiting discretionary purchases.

The recession odds have fallen recently, but consumers still feel anxious amid aggressive Fed rate hikes. Caution applies to spending and investing.

Some homebuyers hope a recession brings lower prices and rates. Over 35% said a downturn would make them more likely to buy. Inventory is still a challenge.

More than 60% of buyers in one survey couldn't find suitable homes in their price range. Supply constraints have persisted amid rising prices.

If looking to buy or refinance, consumers should shop mortgage rates now. Comparing lenders can help get the best deal.