Deciding whether to refinance your mortgage can be a lot like playing golf. When the conditions are right and you’ve studied the course, you have a better chance at hitting a hole in one. With the Federal Reserve cutting rates for the third time at its December meeting, homeowners with higher-rate loans may finally have an opening to score some savings.
Refinancing can help you lower your monthly payment and reshape your loan to fit your current goals, whether that means switching from an adjustable-rate to a fixed-rate mortgage for more stability or shortening your term to pay off your home faster.
