Thinking of Refinancing Your Mortgage? Three Goals to Consider First

Mortgage rates are falling and more homeowners are thinking about refinancing but knowing when to act is tricky. A good general rule is looking to see if the current rate is at least half a percentage point lower than your own rate and that you plan on staying in your home long enough so that the savings covers the thousands of dollars in closing costs. There are three important goals to consider before refinancing.First, lowest lifetime cost. If your goal is to minimize the total interest paid over the l ...