With home loan interest rates hovering near historic lows, many homeowners are wondering, “What about me? I took out a mortgage some time ago when rates weren’t as attractive as they are now. Is there something I can do?” The answer is, “Absolutely!”
For those of you who aren’t clear, refinancing is simply the act of paying off one loan by getting another. Any homeowner should consider refinancing if they are offered better loan terms or a lower interest rate.