Mortgage rate predictions for 2024 are increasingly optimistic as rates have dropped for the ninth consecutive week. US mortgage rates fell to an average of 6.61% in the week ending December 28, down from 6.67% the previous week. Economists expect further declines in mortgage rates in 2024, influenced by Federal Reserve rate cuts. However, the drop in rates has not yet led to a substantial sales recovery due to a lack of housing inventory.