Overall, forecasters expect mortgage rates to ease, but they’ve dialed back their expectations for a sharp drop — at least until a fed cut. The question now is will interest rates still go down in 2024?
Interest rates currently stand at 5.25% to 5.5%. The last time it was this rate was back in january 2022.
Rates Rose Steadily In Early Spring, Finally Breaking 7% For The First Time This Year In April And Remaining There Through Mid May.
Learn when mortgage rates will go down.
The Federal Reserve Left Its Key Interest Rate Unchanged At Between 5.25% And 5.5% — The Highest Level In More Than A Decade — As Annual Inflation Rates Continued To Stall.
The current mortgage interest rates forecast is for rates to embark on a gentle downward trajectory over the remainder of 2024.
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Fed Policymakers Scale Back To One Rate Cut In 2024.
June 12, 2024, 11:04 am pdt / updated june 12, 2024, 11:36 am pdt.
Rates Will Remain Above 6.5%.
That tees up the possibility the federal reserve will signal plans to cut interest rates.