When Will Mortgage Rates Drop 2024. Us mortgage rates fell again last week to the lowest level since april 2023, spurring a modest pickup in applications to buy a home. There is a growing consensus that the fed will begin cutting interest rates next month, and while the central bank doesn’t directly set mortgage rates, its actions influence borrowing costs.
Property experts anticipate mortgage rates will fall before the end of 2024, but opinion is split as to when and how much they’ll drop. “based on current data, it is hard to envision more than one to two cuts in 2024 and hard to see mortgage rates drop below 6.25%.” re/max:
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