Mortgage Rates End 2023 Not Too Terribly Far From Where They Started

Looking back at October when 30yr fixed mortgage rates were over 8%, a return to the roughly unchanged levels by the end of the year may have seemed like too much to hope for.  While we might not have made it quite back to rates seen on the last day of 2022, we got surprisingly close. Today's movement didn't contribute to this conclusion in any meaningful way.  The average lender quoted modestly higher rates compared to yesterday afternoon, but still right in line with the flat trend that's been intact since December 14th. Next week could easily bring more volatility with several important economic reports on tap, starting on Wednesday.