This week the Freddie Mac 30-year fixed interest rate averaged 6.35%.

Sam Khater, Freddie Mac’s chief economist, noted the 15 basis point-drop from last week was the largest weekly drop in a year.

There were 3.1 million homeowners “in the money” on a refinance as of Sept. 9, according to Andy Walden, head of mortgage and housing market research at Intercontinental Exchange.

Most likely these are folks carrying fixed-rate mortgage interest rates in the high-6% and 7% range.

Conventional wisdom believes the Federal Reserve is going to cut interest rates three times before the end of the year. The first cut will carve out one-quarter percent at the Sept. 16-17 meeting. Cut number two will come in October, with the third cut at the December meeting.

All of this begs the question: Should y

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