Will Refinance Rates Go Down In 2024. Most mortgage rates have decreased today. As mortgage rates drop, borrowers with rates in the 7% or 8% range should be able to save money by refinancing.
A more normal spread could knock a point off mortgage rates, but the central bank’s stance all but guarantees spreads will remain wider in 2024, says mcbride. Mortgage rates will have their biggest decrease in the first quarter of 2024, with the remaining quarters floating around the same average rate.
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