With record-breaking annual increases in mortgage rates in 2022, experts predict a drop in mortgage rates for 2023 as inflation declines and the US economy prepares for a possible mild recession. While lower mortgage rates may attract homebuyers who were previously unable to afford homes, the affordability challenge persists due to the supply shortage. In this article, we explore what the experts are saying about the state of mortgage rates, how to get the best rates in the fluctuating market, and how to navigate the market in 2023.