The federal reserve is keeping the lid on interest rates to close out this year. Many economists still think the fed will cut rates at some point in 2024—just not at the june 12 meeting.
Mortgage rates are not going down right now, but expert rate predictions say they will end 2024 between 6.5% and 7%. Interest rates currently stand at 5.25% to 5.5%.
The Unemployment Rate Also Ticked Up To 4.0% In May;
Westpac economists predict that the current level of 4.35% will be the peak of the cash rate, and that we might expect the first rate cuts to occur around.
Price Increases Slowed Rapidly In 2023, But That Progress Stalled In The Early Months Of 2024.
Will mortgage rates go down in 2024?
Images References :
How Far Could Rates Fall?
That peak level was set when the fomc last raised interest rates in july 2023.
Price Increases Slowed Rapidly In 2023, But That Progress Stalled In The Early Months Of 2024.
Mortgage rates are not going down right now, but expert rate predictions say they will end 2024 between 6.5% and 7%.