Mortgage interest rates may be low enough to justify buying or refinancing an existing property now. ferrantraite/Getty Images

Mortgage interest rates have been so high for so long that homebuyers and owners hoping to refinance could be forgiven if they've given up on a purchase or refinance. But that could be a mistake now, in the final weeks of 2025, considering that rates here have dropped by a not insignificant amount already this year. And they could continue that decline in the weeks ahead if the Federal Reserve continues its recent interest-rate cut campaign ( which looks increasingly likely ).

Mortgage interest rates , frequently found over 7% in recent years (and even in early 2025), hit a 3-year low in both September and October and have been hovering around that le

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