Mortgage Rate Forecast 2024: Will Rates Go Down?
Home » I Own a Home » Mortgage rate forecast 2024: Will rates go down? The best rates on fixed rate mortgages have been increasing for months. But could that be about to change? We look at the mortgage rate forecast for 2024 to see what might happen next. Angela Kerr Director, Editor Mortgage rate forecast for 2024: Will mortgage rates go down?The mortgage rate forecast for 2024 is that rates are expected to go down, although it may take longer than had previously been hoped. In June 2024, we’re seeing a mixed picture with the best mortgage rates on fixed rate mortgages; some are nudging up while others are being trimmed. This follows several months of mortgage rate increases in fixed deals; these hikes followed months of falling mortgage rates.It had been hoped that the picture could soon improve for homeowners. In May, when the Bank of England announced it was holding the base rate at 5.25% for the sixth time in a row, 2 of its 9 person Monetary Policy Committee voted for a 0.25% cut...