Mortgage Rates In May 2024. The mortgage bankers association didn’t include mortgage rate predictions in its august 2024 economic forecast, but its latest forecast in may 2024 showed rates falling from 6.4% in january to 5. As a result, we expect mortgage rates to remain elevated through most of 2024.
Housing experts say mortgage rates are likely to hover in the 7 percent range in may, amid elevated inflation that is keeping the federal reserve from reducing. We receive current mortgage rates each day from a network of mortgage lenders that offer home purchase and refinance loans.