Mortgage Interest Rates Highest this Year! August 15, 2023

It’s official.  Most mortgage lenders are quoting the 30 year fixed mortgage interest rate today at 7.25% (7.48% APR).  This is the highest they have been in all of 2023 and the highest since November 2022.  Back in Nov 2022 they hit around 7.375%.  So we are very close to the highest rate in about 21 years.  Some forecasters see rates beginning to move lower before the end of 2023, while the more pessimistic estimators think we could be stuck in a similar range through most of next year.  Either way, we aren’t going to see super low rates again for quite some time.