Buying a home or refinancing an existing one isn't a decision made lightly. And in the interest rate environment of recent years, unfortunately, it hasn't been a decision millions of Americans have been able to make at all. With home prices elevated in many parts of the country and interest rates exponentially higher than they were at the start of the decade, many wound up on the sidelines waiting for a break. But these circumstances started to improve last year. Mortgage interest rates in 2025