Has all the buzz on the new got you wondering if now is a good time to refinance your mortgage? The honest answer to that question may surprise you. Many people think that just because interest rates are low, that now =must be a good time to refinance. While that may be true, it is not necessarily always the case depending on your personal situation. For example, how many years are you going to live in your home? if you are going to live there for twenty more years, and you can save a point and a half by refinancing, then by all means it makes perfect sense. however, if you are only going to live in the home for a few more years, it does not because your closing costs will outweigh the savings of such a short period of time.
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