While there’s no crystal ball to signal when you’re ready to take that big step, there are some telltale signs that can point you in the right direction. First, in September, the Federal Reserve lowered interest rates for the first time in four years, with more cuts expected into 2025. The Mortgage Banking Association (MBA) even predicts lowered rates to remain steady into 2026. So, tldr: 2025 could be the year to start your home buying journey, because borrowing money — a mortgage — is essentially the cheapest it’s been in the past four years. For prospective homeowners, that could mean lower monthly loan repayments, and the opportunity to lock in the low rates for the lifetime of a long-term, fixed rate loan. For current homeowners, refinancing — swapping out your existing loan for a more beneficial one — means lowering monthly payments, increasing savings, and maybe even paying off your mortgage faster at the reduced interest rate.