Following the Federal Reserve’s 10th consecutive interest rate hike, Peter Idziak spoke with CBS News to discuss when mortgage rates may drop, whether now is a good time to buy a home, and whether it is a good idea for borrowers to refinance.
“The Fed has recently signaled that it may forego a rate increase at its next meeting while it evaluates the effect its recent increases have had on inflation, but the market still expects the Fed to continue raising rates later this year,” Idziak said. “However, if the Fed stops raising because the data shows the economy weakening and inflation coming down further, then I would expect mortgage rates to decrease during the second half of 2023.”
For more of Idziak’s insights, please see the full CBS News article – When will mortgage interest rates drop? Here’s what experts think