Mortgage Interest Rates 2024 Predictions. If inflation continues to dissipate and the economy cools or goes into a recession, it’s likely mortgage rates will decrease in 2024. We’re well into 2024 now, and after.

The bank of canada (boc) announced on july 24, 2024 that it would be cutting its overnight lending rate to 4.5%, following a similar.25% cut in june. Rates rose steadily in early spring, finally.