Definition: The term "will mortgage rates drop in a recession" refers to the belief that with an economy in recession, the likelihood of increased interest rates or more restrictive lending standards for mortgages would decrease, thus lowering the cost of borrowing on those loans. In general, this statement is based on economic theories and assumptions about how economic growth and stability influence lending. It's not a factual statement, but it might be used as a persuasive argument in a discussion around the potential impact of the recession on mortgage rates.
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