7 good reasons for a mortgage refinance
HARP refi » 7 reasons why you should refinance
Does a new home loan make sense?
Why refi? There are at least seven reasons to refinance a mortgage. You probably can think of the first one -- to get a lower mortgage rate.
The average interest rate on an outstanding mortgage at the beginning of 2012 was 5.098 percent, according to the Bureau of Economic Analysis. However, lenders today are offering rates well below that benchmark, making a refinance a no-brainer for many.
But low rates are not the only motive for refinancing a home loan nowadays. The following are good reasons to consider a new home loan.