When Should You Refinance Your Mortgage?

Here’s how to determine if refinancing makes sense for you—or if another option might be better.

For many borrowers, it’s best to refinance when you can lower your interest rate and plan to stay in your home long enough to recoup the refinance closing costs. Dreamstime/TNS

By David McMillin Bankrate.com

While most borrowers look to refinance their mortgage when refinance rates fall, there might be other cases for swapping your loan, too.