Recent trends show a significant increase in mortgage refinancing demand, spiking nearly 60% as rates drop sharply, reaching levels not seen in nearly a year. The US 30-year mortgage rate has fallen to a three-year low, prompting many Americans to refine their loans. With a likely Federal Reserve interest rate cut approaching, experts predict a further boost in refinancing activity and potentially increased home sales. As mortgage rates continue to tumble, industry analysts are closely monitoring the effects on the housing market and advising homeowners to consider refinancing options.