Mortgage Rates Could See Slight Decrease in 2024 as Economy Cools

The Federal Reserve could cut interest rates in 2024, leading to slightly lower mortgage rates.

Inflation has been falling and if it continues to decline, the Fed may cut rates more than expected.

The hot jobs market could finally cool down in 2024, weakening the economy and leading to lower mortgage rates.

Mortgage rates are unlikely to drop down to 2020/2021 levels when they were around 2%, but some relief is possible.

Key economic factors like inflation and the labor market cooling off could create conditions for mortgage rates to decrease slightly in 2024.