Check out Mortgage America’s three predictions for financing in the second half of 2023:
Expect two more federal rate hikes by the end of the year.
Don’t count on rate decreases from the Fed.
Speculation suggests rates may start to go down by summer next year due to a presidential election.
Stability is crucial for buyers, as it encourages sellers to enter the market and may lead to a slight reduction in consumer rates. To navigate these predictions, plan ahead, get pre-approved, and consult professionals. Consider seasonality in the housing market and take advantage of potential opportunities with less competition in summer and fall.