Refinancing may help lower your monthly payments. Here are a few tips for those thinking about refinancing.
Mortgage rates are rising in western real estate markets, in response to a very bullish market in the last few years. The good news is that they’re rising from record lows. Refinancing your mortgage now may help you lower your payments, especially if you’ve owned your home for some time and want to see if a better rate can make those monthly payments easier. It’s not right for every situation, but depending upon your circumstances, it could help you out a great deal.