By contemplating the answers to certain questions, homeowners looking to refinance can better determine if it's worth taking action now. Wipada Wipawin/Getty Images

Mortgage interest rates fell to an 11-month low last week, giving both homebuyers and current homeowners looking to refinance reason for optimism. It wasn't that long ago that rates here were at their highest point in decades . But rates have steadily declined for much of 2025 and are likely to fall further this autumn, potentially even heading back below 6% , should certain market conditions be met.

All of these developments and the potential for more, however, are enough to make even savvy homeowners confused. And, if you're one of those buyers who purchased a home in recent years, you may be wondering abou

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