Overrate rhymes with:
underrate, berate, crate, desecrate, frate, freight, grate, great, irate, mccreight, prorate, rait, raitt, rate, straight, strait, strate, streight, trait, underrate
Overrate sounds like:
obert, offered, offord, operate, operated, operetta, overate, overdid, overdo, overdue, overeat, overhead, overheard, overheat, overheated, overrated, override, overrode, overt, overwrite, overwrote