US mortgage rates declined last week to the lowest level since September 2022 in anticipation of Federal Reserve interest-rate cuts, stoking an influx of applications for home purchases and refinancing.

Mortgage rates have dropped substantially as markets gear up for a rate cut from the Fed. Should you take advantage and refinance now, or wait?

The Fed is set to issue its first rate cut since 2020 this week. Here's how far mortgage interest rates could then drop.