Will interest rates go down in 2024?

Prospective homebuyers are concerned about high mortgage rates and limited housing inventory. However, forecasts predict that interest rates will decrease in 2024, potentially leading to a recovery in home sales. To improve their chances of homeownership, individuals are advised to increase their credit score, check credit reports for accuracy, reduce debt, apply for first-time homebuyer programs, save for a down payment, and shop around for mortgage lenders. Forecasters estimate that mortgage rates will peak around 7-8% and then decrease to 5-6% by the end of 2024.

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