Refinancing based on interest rates

[Dav Pohote]

Today the Fed said they would debate having 3 rate cuts this year, which can add up to .75-1 basis point. 

On the 15 yr fixed mortgage's I use, that comes out to about $250/month in interest payments, or $3,000/year. 

My question is if I see a property I really like now, how easy would it be to refinance in Q1 2025? What does the bank look at? I've never refinanced but hear alot about it. Wouldn't everyone who got in at higher rates do the same thing when rates go down and overflood the banks with work?