With rates still holding steady many home owners are rethinking the possibility of saving hundreds per month when refinancing. But should you refinance? To answer this question we will first need to define the financial term home loan refinancing.

Home Refinancing Defined: The process of the same borrower paying off one loan with the proceeds from another loan. The repayment of a loan with funds from a new loan secured by the same property as the first loan. The new loan may be from the same or a different lending institution.

Now that we know the process we