2023 Mortgage Rate Predictions in San Diego Many real estate analysts were surveyed in order to get a better idea about mortgage rates and where they might wind up in 2023. Here’s a summary of their mortgage rate and trends predictions. We see mortgage rates hitting 9.31% for 30-year mortgages and 7.93% for 15-year mortgages. If the central banks are unable to get inflation under control, interest rates will continue to rise and drive up deficit spending. Plus, DC’s politicians are trying to control short-term inflation. If the Fed’s rate hike program begins to focus more on housing market inflation, then housing prices could go down as well as interest rates. At some point, if housing prices decrease substantially, there could be only moderate rate increases which in turn would enable an increase in home prices – barring a recession, of course. Our advice to buyers and homeowners is as follows. If you’re going to buy a home now, you should expect to lock in a rate of roughly 7% with little if any likelihood that you’d be able to refinance at a lower rate for the next 18 to 24 months. Furthermore, if housing prices continue dropping, you might want to exercise additional patience and wait things out. If you plan on staying keeping your home for the next 5 years and you have stable employment, lock your rate in NOW and refinance when rates are more tolerable. https://maps.google.com/?cid=16824122314408091412