If you're planning to buy a home, experts say there are a few things you should do — and a few you should avoid — after a rate cut. Manusapon Kasosod/Getty Images

Homeownership has continued to feel out of reach for millions of Americans this year. Part of the issue is that 30-year fixed mortgage interest rates now hover between about 6.5% and 6.8%, while home prices remain high in most markets. The Federal Reserve is expected to issue the first rate cut of 2025 later this month, though, which could mark a turning point for borrowers and offer relief to prospective homebuyers.

But mortgage professionals warn that hasty decisions or common misconceptions can be costly in the aftermath of rate cuts. You could even miss out on your dream home due to poor timing or strategy.

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