Mortgage Rates Expected to Trend Downward in 2024, But Timing Uncertain

Many experts think mortgage rates will start 2024 around current levels - in the 7-8% range.

Rates are expected to trend downward in 2024 as inflation cools, with some predicting rates in the 5-6% range by end of year.

The Federal Reserve's actions to combat inflation are key - rates may not fall until Fed reverses course.

Economic factors like jobs reports and CPI will indicate when rates could start falling.

There's uncertainty about timing and speed of rate declines, but general consensus is a downward trend in 2024.