Locking in Interest Rates During a Recession

The first thing that you want to do during a recession is locking in your interest rates. When things go up, your debt starts to get more expensive and you want to keep your debt cheap. In New Zealand, our student loans are interest free so it's a zero percent interest. So if I owe $50,000, I just have to pay back $ 50,000. However, if I have a mortgage in New Zealand, mortgage rates will change, depending on how long you've locked them in for. Americans are lucky in this regard. They can lock in their mortgage rates for 30 years. But for someone like myself, I know that my mortgage only is locked in for a