It’s difficult to predict exactly what will happen to mortgage rates in 2023. Mortgage rates are influenced by a number of factors, including the state of the economy, inflation expectations, and monetary policy.
As of my knowledge cutoff in 2021, the US economy was in the midst of a recovery from the impacts of the COVID-19 pandemic, and the Federal Reserve was maintaining low-interest rates to support the recovery. If the economy continues to recover and inflation expectations rise, it could put upward pressure on mortgage rates.
However, the exact trajectory of mortgage rates in 2023 will depend on a number of unpredictable factors and can change rapidly. It’s always a good idea to monitor the market and seek the advice of a financial professional before making any decisions about your mortgage.
