Definition: The word "will mortgage rates go down" suggests that a loan is about to become more affordable or lower in interest rate, particularly when compared to a previous period. The phrase implies that the situation is not as bad as it seems, but there could be some changes in interest rates that would make this possible. In the context of real estate lending and mortgage rates, "mortgage rates" generally refer to the cost of borrowing money to finance property or other financial obligations such as a home loan. The specific interest rate on a mortgage will depend on various factors such as the amount borrowed, location, loan term, and credit score, among others. If mortgage rates go down in general, it could mean that more people are able to afford loans, leading to lower interest costs for homeowners or borrowers seeking to refinance their mortgages. This can also lead to a decrease in the overall cost of borrowing money for various financial commitments, such as mortgages and car loans. However, without specific data on mortgage rates over time, it is not possible to provide an accurate estimate of what will happen with this particular situation. It's important to note that changes in interest rates are subject to many factors beyond just the market conditions, including changes in inflation, government policies, and economic growth trends.