Mortgage Rates Decrease 2024 Calendar. When will mortgage rates go down? In july 2024, the consumer price index was up just 2.9% year over year, a downtick from the previous month's reading.

If inflation continues to dissipate and the economy cools or goes into a recession, it’s likely mortgage rates will decrease in 2024. Fannie mae researchers expect prices to increase 6.1% in 2024, while the mortgage bankers association expects a 4.1% increase in 2024.