Will Mortgage Rates Go Down In 2024 Canada. After nearly two years of interest rate increases, cuts may be on the horizon—here’s what. The june forecast also predicts that mortgage rates will average 6.8% in 2024, down from 7% in its previous forecast.

Down from a peak of 8.1 per cent two years ago. Policymakers led by governor tiff macklem lowered the benchmark overnight rateto 4.5% on wednesday, as expected by markets.