Mortgage rates have been low for a long time
You've probably thought about refinancing your mortgage but aren't sure if now is the right time. Regardless of how long you've owned your house, this decision should be considered carefully. It's not cheap to refinance your mortgage, so let's walk through the key factors to consider when deciding to refinance your mortgage. How Long Will You Own Your House? Do you remember when you bought your home? Besides the down payment, there were a lot of extra closing costs. When you refinance your mortgage, you'll have to pay most of these closing costs again. Depending on where you live, this can amount to somewhere between two and five percent of the mortgage. For example, a $350,000 house with a $280,000...