Fed Interest Rates 2024 Forecast. That peak level was set when the fomc last raised interest rates in july 2023. As inflation surged and the fed began hiking interest rates to tame it, mortgage rates roughly doubled within a year.

Washington — the federal reserve approved its second consecutive interest rate cut thursday, moving at a less aggressive pace than before but continuing its efforts to. We expect inflation in 2025 and 2026 to come in below the fed’s 2% target.