Will mortgage rates decline in 2023?

Earlier this year, Barry Habib, founder and CEO of MBS Highway, a platform that helps to interpret mortgage rate forecasts, accurately predicted that inflation would rise and thus mortgage rates would go up, too. But he’s optimistic about where rates are headed in 2023. “Because we see a slowdown, and we see the inflation comparisons start to become more favorable, you’ll start to see that inflation number move lower, lower, lower, lower. And as a result, mortgage rates should move similarly on a downward trajectory–probably giving us around 5%, below 5% within the next six months. Good news for home sellers. With lower mortgage rates, there will be more competition in the housing market and more buyers vying for their homes. Good news also for home buyers who have a bit more purchasing power and get more bang for their buck.

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