Why You Should Think Twice Before Refinancing

More homeowners are trading in old loans for new ones, but doing so comes with hidden costs.


The bottom line? If you're a good customer and the current low interest rates are significantly lower than the one on your mortgage, then crunch some numbers and see if you could save money each month, even after paying the requisite fees. Qualifying for a "streamline refinance" could tip the balance in favor of making that call.