What Will Happen With Interest Rates In 2023
Brace for another year of high interest rates — and prices most analysts agree — and fed chair jerome powell has said as much — interest rate increases still have a long way. It's difficult to put a precise number on where savings account rates could land in 2023. The average for the month 7.39%. Rates drops are more common in the early stages of a recession.
According to investment firm morningstar, interest rates could fall to 1.75 percent by the end of 2023, with the expectation that inflation will slow down and allow the fed to reduce rates from. Why are mortgage interest rates rising so quickly and will they continue to do so? Experts from the big four banks have also released their predictions. If you are short on time, you can skip our discussion.