Interest Rates 2024 Forecast. During the period of high interest rates, first home buyers benefited the most. Discover where interest rates are headed in 2024 and beyond.

The widespread expectation is for a cut of 0.25 percentage point, or 25 basis points, to benchmark rates from the current range of 5.25% to 5.5%. Uk interest rates were cut on 1 august 2024 for the first time since 2020, bringing relief to many households and businesses struggling with higher mortgage.