Will Mortgage Rates Go Down In August 2024. But any changes to mortgage bills will depend. If inflation continues to dissipate and the economy cools or goes into a recession, it’s likely mortgage rates will.

“by the spring of 2024…rates will hopefully be in the 6% range.” the fed paused its rate hikes in september and extended the pause just over a month later. Homebuyers might consider buying now and refinancing later.