3 important mortgage rate questions to ask after this week's Fed rate cut

By thinking through the answers to some mortgage rate questions now, buyers can better determine their next steps. Maks_Lab/Getty Images

Most homebuyers and homeowners hoping to refinance are well aware that mortgage interest rates are far from the lows that were readily available in 2020 and 2021. What some buyers and owners may not realize, however, is that mortgage interest rates have been incrementally declining for much of 2025 . After starting in January at over 7%, the average mortgage interest rate on a 30-year term has been parked around 5.99% over the past week, opening new windows of opportunity for buyers otherwise sidelined in the high-interest-rate climate of recent years.

And that decline in the mortgage interest rate space may continue this week, especially if t