"2024 Interest Rate Trends: What to Expect for Mortgages, Refinancing, and Loans"

Expert predictions suggest that interest rates for various consumer loans will likely decrease in 2024 as the Federal Reserve aims for a "soft landing" to bring inflation down to its 2% target. Credit card rates are expected to fall just below 20%, mortgage rates are predicted to decline to 5.75%, auto loan rates may edge down to 7%, and high-yield savings rates are anticipated to stay over 4%. These changes reflect a modest easing of borrowing costs following significant rate increases since early 2022, offering some relief to consumers in a persistently high interest rate environment.