Will Mortgage Rates Go Down In 2024. Finally, the bank of england cut interest rates on the 1st august for the first time since march 2020. Mortgage rates have fallen to their lowest level in more than a year, a balm for prospective home buyers and sellers in a challenging real estate market.

It’s possible that rates will one day go back down to 3%, though if current trends hold that’s not likely to happen anytime soon. While rates might be roughly in line with current levels at the start of next year, give or take a little, some experts predict a more.