Welcome to the Mortgage Minute with Ryan Skaggs! In this video, we dive into the hot topic of interest rates and discuss where they are heading in 2023. With various opinions circulating on the internet, we bring all the perspectives together on one screen to provide you with a comprehensive narrative.
As we enter June 2023, interest rates have reached their highest point of the year so far, thanks in part to the ongoing debt ceiling issues. However, in the past week, there has been a notable shift as rates begin to decrease. We explore the current average 30-year fixed rate and compare it to previous highs, highlighting the potential for rates to approach or surpass previous records.
But where do you think interest rates will end up by the end of 2023, or even heading into 2024? We invite you to share your thoughts and predictions in the comments section below. We'll revisit this discussion at the end of the year and see who's got it right. Plus, there's something cool in store for those who participate!
To provide you with a well-rounded perspective, we analyze various sources, including Fannie Mae, the National Association of Realtors, Bank of America, and the Mortgage Bankers Association. Each entity offers their insights on where rates are heading, projecting potential decreases in the near future.
The video also addresses a commonly asked question: Should you wait for rates to go down before making a move? We explore the impact of lower rates on the real estate market and discuss how increased buyer demand may lead to intensified competition. We analyze the potential consequences of waiting, considering factors such as inventory shortages and housing prices.
If you're interested in staying informed about everything related to mortgages, real estate, and interest rates, make sure to subscribe to the Mortgage Minute channel. We release weekly videos to keep you up to date and provide valuable insights for making informed decisions.
Join Ryan Skaggs as he breaks down the interest rate projections for 2023 and helps you navigate the ever-changing landscape of the housing market. Don't miss out on this informative and engaging discussion. Hit that subscribe button and join our community today!
Subject to credit approval, not all borrowers may qualify. Rates and terms are for illustrative purposes only; your actual rates and terms may be different. Please contact Neighborhood Loans for current rates and programs. Neighborhood Loans is an FHA approved lender, not endorsed by or affiliated with any government institution. Not to be considered tax or financial advice. Please consult a tax or investment professional.
