Will Mortgage Rates Go Down In August 2024. Most experts believe mortgage rates are due to go down further, they’re just not sure quite when or how far. Mortgage rates started going down in early august 2024, making homeownership more affordable than a year ago.
Expect prime rate at 6.2% by the end of 2024 and 5.45% by the end of 2025. Fannie mae’s august 2024 forecast (its latest at the time of writing) predicts that 2025 rates will start at 6.2% and trickle downwards by 0.1% each quarter, landing somewhere.
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