The Federal Reserve on Wednesday cut interest rates by a quarter point as expected, lowering borrowing costs for the third time this year. The cut could mean lower rates for mortgages, car loans and credit cards. https://www.cnn.com/2025/12/10/business/consumer-interest-rates-savings-debts-fed

Is now a good time to refinance your mortgage?

Money expect Clark Howard says…maybe. If you are one of the many people who bought a home with those high seven percent-plus interest rates, you now have an opportunity to refinance. But it’s not for everyone.

Clark’s rule for refinancing is simple: If it is clear that you will save a meaningful amount of money by doing the refinance, do it.

If you lock in meaningful savings today, you’ve won. And guess what? If rates were somehow to go significantly lower in the future, you just refinance again!

Tip: Use Clark’s Mortgage Refinance Calculator to run your numbers.

https://clark.com/homes-real-estate/mortgages/is-now-a-good-time-to-refinance-your-mortgage/