Your mortgage will most likely be the largest loan you ever take on. It buys you a place to lay your head, and peace of mind. Because the dollar amounts are usually so large, the interest rate that you get on your mortgage is extremely important. By shaving off a percent or less, you can save a bundle of money. If you know you can save money, refinancing your mortgage is a good move.

How can you get a lower mortgage rate? One way is to work with changing interest rates. If interest rates in general have gone down since you got your mortgage, you may be able to refinance and get a better rate. Before doing this, you need to make sure that it makes financial sense. Do the math, or sit with an honest mortgage broker. Refinancing costs money — the fees and closing costs may wipe out any potential gains. However, if all the moving parts line up correctly, it may be worth your while. If you're going to stay in the house long enough to regain those costs, refinancing makes sense.