With mortgages being as big an expense for most of is as they are, how can I pay less and free up more of my money? A mortgage refinance can be a big help, but how do you know when to make that move? A lot of it has to do with current mortgage rates. For instance, rates now are pretty low, so it may be a good time for you to think about a refinance. However, there are things to take into account when considering a refinance since the current mortgage rate is not the only thing that will determine whether or not it is time to refinance.

Refinancing is only slightly different than making a new purchase. In both situations it is important to consider your own financial situation before making a move. The current mortgage rate are what will likely affect your fixed or adjustable rate mortgage or refinance the most, but you must also shop around. Mortgage companies are highly competitive with one another. They don