Mortgage Rates 2024 Prediction. Lower mortgage rates in 2024 — nar is predicting the average will be 6.3% by the fourth quarter, down from 7.8% in 2023’s final three months — will entice more. Mortgage rates and home prices are expected to drop in 2024, housing experts predict, improving affordability for homebuyers.

Still, many experts think mortgage interest rates will start to trend downward in. The most recent announcement by the federal reserve that its benchmark interest rate would remain unchanged could mean good news for home buyers who.