Should you refinance your mortgage? Here's what to consider

(NewsNation) — The recent decline in mortgage rates has more Americans looking to refinance, and the Federal Reserve's expected rate cuts could make refinancing even more attractive heading into 2025.In early August, refinance applications were up nearly 60% versus the same period a year earlier, according to the Mortgage Bankers Association.The chance to refinance at a lower rate may be especially appealing for those who bought homes in 2023 when mortgage rates surged above 7%. Why s