The purpose of refinancing your mortgage is to obtain a lower interest rate. This will might save you more money in the short term, because you will pay less interest per month. However, refinancing might cost you more in the long-run. Before you refinance your mortgage, it is important that you realize where you stand financially and how such a change will impact your investment in the long term. There are different reasons why you might want to refinance your mortgage. You might find yourself in a high fixed rate mortgage and desire a lower one. Having an adjustable rate mortgage is … [Read more...]