Mortgages and Interest rates have been front page news for months now, with many people across the country living in a sustained state of worry… However, the past few months have certainly brought a little more stability and options to the market that are a sign of optimism.

Another interesting point of view though is “some may say we have now returned to a ‘normal’ market”. This is according to Leon Diamond, chief executive at LiveMore Capital.

We have lived with historically low rates for the past 13 years, but let’s explore the outlook a little further.

The Mortgage Outlook for 2023

As we look forward, Diamond said that even if the Bank of England base rate goes up by another 0.5% to 1% this year, he believes mortgage rates should remain fairly steady. The reason for this good news is that this is expected by lenders. So It doesn’t necessarily mean it will be more expensive to get a mortgage.

The caveat to this prediction, however, is that there is no more disruptive upheaval in the world economy, as we’ve witnessed over the past few years.