Mortgage rates increased gradually in 2022 until significantly

 declining in mid-November. However, analysts continue to

anticipate overall higher rates for the next year, with any short-term dips likely to be transient.

We asked eight industry insiders what they thought the 30-year

fixed rate will be in 2023, and their responses ranged substantially, from about 5% to almost 9%

The consensus among experts is that strong inflation will continue

to drive up mortgage rates; a severe recession or an unforeseen

"black swan event" would be required for rates to significantly decline.