If mortgage rates nearing historic lows have you thinking about refinancing your home, you are not alone. In just the first nine months of 2020, more than 6 million homeowners refinanced, according to NerdWallet1
. By saving homeowners thousands of dollars or allowing them to tap into equity, it is to no surprise that we are experiencing such an influx of refinances. Before you make the move, it is important to have a goal in mind, to compare your current terms with today’s rates, and to weigh out the costs and benefits.