If you said yes to one or more of these reasons, it might be a good idea to refinance. Today's mortgage rates are extremely competitive and it's very likely that you may secure a lower interest rate.
- Property values have increased rapidly over the past few years, if you currently have mortgage insurance it’s likely it would be greatly reduced or removed.
- If you carry credit card debit, it would be much wiser to payoff through closing of a new mortgage and substitute the debt with a much lower interest rate.
- If you wish to improve your home, what a better time than now. You can cash out and use the funds to fix up your home.
