THE BIG CITY TEAM
  • Home
  • Listings
  • Our Team
  • Blog
  • Contact Us

Expert Forecasts on Mortgage Rates Heading into 2023

9/12/2022

0 Comments

 
Picture

If you’ve been thinking of buying a home, you may have been watching what’s happened with mortgage rates over the past year. It’s true they’ve risen dramatically, but where will they go from here, especially as the market continues to slow?

As you think about your homeownership goals and decide if now’s the time to make your move, the best place to turn to for that information is the professionals. Here’s a summary of the latest mortgage rate forecasts from housing market experts.


Experts Project Mortgage Rates Will Stabilize

While mortgage rates continue to fluctuate due to ongoing inflationary pressures and economic uncertainty, experts project they’ll start to stabilize in the months ahead. According to the latest projections, mortgage rates are expected to hover in the low to mid 5% range initially, and then potentially dip into the high 4% range by later next year (see chart below):

Picture

That could bring you some welcome relief. So far this year, mortgage rates have climbed over two percentage points due to the Federal Reserve’s response to inflation, and that’s made it more expensive to buy a home. And wondering if the rise in rates will continue is keeping some prospective buyers on the sidelines.
​
But now that experts say mortgage rates should stabilize, this gives you a bit more certainty about what they think the future holds, and that may help you feel more confident about your decision to buy a home.


Bottom Line

Whether you’re looking to buy your first home, move up to a larger home, or even downsize, you need to know what’s happening in the housing market so you can make the most informed decision possible. Let’s connect to discuss your goals and determine the best plan for your move.
​

Picture
0 Comments



Leave a Reply.

    Picture

    BLOG Archives

    November 2023
    October 2023
    September 2023
    August 2023
    July 2023
    June 2023
    May 2023
    April 2023
    March 2023
    February 2023
    January 2023
    December 2022
    November 2022
    October 2022
    September 2022
    August 2022
    July 2022
    June 2022
    May 2022
    April 2022
    March 2022
    February 2022
    January 2022
    December 2021
    November 2021
    October 2021

​The Big City Team
Berkshire Hathaway HomeServices
6416 Bay Parkway, 2nd floor
Brooklyn, New York 11204

Colin R. O'Leary
Founder & Team Leader
Licensed R.E. Salesperson
Phone: 646-300-2012
Colinoleary@bhhsfillmore.com

Picture
Picture

© 2023 BHH Affiliates, LLC. An independently owned and operated franchisee of BHH Affiliates, LLC.
Berkshire Hathaway HomeServices and the Berkshire Hathaway HomeServices symbol are registered service marks of Columbia Insurance Company, a Berkshire Hathaway affiliate.
Equal Housing Opportunity.

​Privacy Policy
​

Your Trusted Partners in Real Estate Across the NYC Metro Area
Picture
  • Home
  • Listings
  • Our Team
  • Blog
  • Contact Us