Interest rate forecast for 2023. The mortgage market/housing market will really hinge on the demand and sustainability of housing with higher rates. Keep in mind these rates are historically about average. Here’s what I would focus on.
✅ Global Banking Institutions Forecasting 6% plus rates next year.
✅ Assume Higher rates to sustain when calculating your next purchase.
✅ Higher rates are going to bring the market back to balanced.
✅ Be aware that 43% of homes in the US are paid off, and most have sub-3 % Mortgages.
✅ Expecting inventory to stay tight as people stay put if they can.
✅ The key to housing stability will be the jobs forecast for next year.
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This video is for informational and educational purposes only. These are not recommendations to buy, hold, or sell any stock or home. I am not a financial advisor, investing is risky, and contact a financial advisor before acting on any advice.
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