Background: The 24 Mg(α, γ) 28 Si reaction influences the production of magnesium and silicon isotopes during carbon burning and is one of eight reaction rates found to significantly impact the shape of calculated X-ray burst light curves. The reaction rate is based on measured resonance strengths and known properties of levels in 28 Si. Purpose: It is necessary to update the astrophysical reaction rate for 24 Mg(α, γ) 28 Si incorporating recent modifications to the nuclear level data for 28 Si, and to determine if any additional as-yet unobserved resonances could contribute to the 24 Mg(α, γ) 28 Si reaction rate. Methods: The reaction rate has been recalculated incorporating updated level assignments from 28 Si(α, α ′) 28 Si data using the RatesMC Monte-Carlo code. Evidence from the 28 Si(p, p ′) 28 Si reaction suggests that there are no further known resonances which could increase the reaction rate at astrophysically important temperatures, though some resonances do not yet have measured resonance strengths. Results: The reaction rate is substantially unchanged from previously calculated rates, especially at astrophysically important temperatures. However, the reaction rate is now constrained to better than 20% across the astrophysically-relevant energy range, with 95% confidence. Calculations of the X-ray burst lightcurve show no appreciable variations when varying the reaction rate within the uncertainty from the Monte-Carlo calculations. Conclusion: The 24 Mg(α, γ) 28 Si reaction rate, at temperatures relevant to carbon burning and Type I X-ray bursts, is well constrained by the available experimental data. This removes one reaction from the list of eight previously found to cause variations in X-ray burst light-curve calculations.