Mortgage interest rates have steadily declined for much of 2025 and could soon fall again. Pla2na/Getty Images

All eyes turn toward the Federal Reserve today as the central bank meets for its final meeting of 2025. Hope for another interest rate cut is now high. A cut in the form of 25 basis points is expected to be issued on Wednesday as the bank makes a continuing effort to stimulate the economy amid unemployment concerns. A cut there, the third such one in four months, could continue to result in lower interest rates for borrowers.

But homebuyers and owners hoping to refinance may find that rates here are already low enough to support taking action. Mortgage interest rates have steadily declined for much of 2025 after starting in January at over 7%. Rates hit 3-year lo

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