Low mortgage rates unleashed a massive wave of refinancing that was a windfall for millions of consumers, but what will happen once those unusually low mortgage rates are gone? Will refinancing mortgage loans effectively be sidelined as a financial resource for home owners?
While the opportunity to lower your interest rate may be the most compelling reason to refinance, it is just one of several. Refinancing can accomplish different things for different people, and the more you are aware of what refinancing can do, the more likely you are to be able to use it to your advantage. [Read more…]