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Federal Reserve Cuts Interest Rates For The First Time This Year — Is Now The Right Time To Refinance?

Sabrina Butler, Savings Analyst • SEPTEMBER 18, 2025

, — Sept. 18, 2025 — Yesterday (September 17th) the Federal Reserve cut interest rates by 25 basis points, the first cut in 2025.

This is an effort to reduce borrowing costs for Americans as the labor market is showing signs of weakness. Businesses are not hiring nearly as much as last year.

Now, if you’re feeling suffocated by high mortgage payments this may be your chance to find a bargain.

With Bankrate.com you can quickly compare multiple lenders to see how much you can save. It pays to compare your options.

I’m talking about cutting your mortgage payment by as much as $207/month.1

Thousands of Americans are using the tool below to finally slash their monthly payment (save as much as $74,664 in interest payments over the life of your loan1).

Adjust it with your details to find a bargain:

No spam from salespeople, no payments that skyrocket after 6 months, real-time personalized offers.

Footnotes

  1. Based on comparison of top offers on Bankrate to Bankrate Monitor National Index for Q2 2025. Assumes a FICO score of 740, LTV between 75%-80%, loan secured by a single-family and owner-occupied home, loan amount of $390,500, and no prepayment penalty. ↩︎