Mortgage Interest Rates Today, June 15, 2024 | Rates Are Down, and They May Drop Further Soon [Business Insider]
Rocket Companies, Inc. Class A (RKT)
Company Research
Source: Business Insider
In spite of earlier forecasts predicting that they'd trend down throughout 2024, mortgage rates have remained elevated so far this year. But May's cooler-than-expected inflation report has allowed them to recede a bit this week. As inflation slows and the Federal Reserve is able to start lowering the federal funds rate, mortgage rates are expected to go down. It's possible the Fed will start cutting rates in September, though whether that actually happens depends on how inflation trends in the coming months. Recent projections from Fed policymakers suggest we may only get one rate cut this year , but it's possible that forecast could change depending on how the latest data shakes out. Investors are still betting that we'll get two cuts by the end of 2024, according to the CME FedWatch Tool Current Mortgage Rates Mortgage type Average rate today Current Refinance Rates Mortgage type Average rate today Mortgage Calculator Use our free mortgage calculator to see how to
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