Will Mortgage Rates Drop 2024. Fannie mae, meanwhile, calls for rates to dip to 6.5 percent by. However, predicting how much mortgage rates will drop after a rate cut is tricky.

Federal reserve widely expected to begin cutting its benchmark interest rate in 2024, mortgage rates could drop as well—at least slightly. Phoenix (azfamily)— mortgage rates have dropped to their lowest levels since february 2023, a welcome sign for arizona families looking to buy a home.