Mortgage Interest Rates 2024

Predicting mortgage interest rates in 2024 is tricky, as they depend on several complex factors. However, I can offer you some insights based on current trends and expert forecasts:

Overall Trend:

  • Expectation: Most experts anticipate a gradual decline in mortgage rates throughout 2024.
  • Reasoning: This decrease is linked to potential reductions in Federal Reserve interest rates and signs of slowing inflation.

Specific Predictions:

  • Range: Forecasts vary, but most predict rates to fall within the 6% to 7% range by the end of 2024.
  • Examples:
    • The Mortgage Bankers Association expects rates to finish at 6.1%.
    • Fannie Mae suggests a range of 6.1% to 7%.
    • Some more cautious models foresee rates remaining elevated around 7.5%.

Expectations for Mortgage Interest Rates 2024:

  • Most experts agree that rates will likely decline in 2024, but the extent of the decrease is uncertain.
  • Some predictions suggest rates could fall to the 6% to 6.5% range by spring, while others anticipate a gradual decline throughout the year, possibly reaching 5.5% by the end of 2025.
  • The pace of the decline will depend on factors like inflation, economic growth, and the Fed’s monetary policy decisions.

Key Factors to Watch:

  • Federal Reserve actions: The Fed’s interest rate decisions significantly impact mortgage rates. If they cut rates as expected, it could hasten the decline.
  • Inflation: Persistent high inflation could force the Fed to maintain elevated rates, delaying the anticipated drop.
  • Economic performance: Overall economic health plays a role, with a recession potentially triggering faster rate cuts.

Current Rates (December 2023):

  • As of today, 30-year fixed mortgage rates are averaging well over 7%.


While mortgage rates are likely to decrease in 2024, they may not return to the low levels seen in recent years. Staying informed about economic developments and consulting with a qualified mortgage lender can help you make informed decisions about your home financing.

Here are some resources for further information:

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