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Is It Time to Refinance Again?

Many homeowners have already taken advantage of low interest rates to refinance their mortgages at some point in the past few years. But with rates still edging downward, it may make sense for some homeowners to consider refinancing again.

In the following video, Motley Fool investment planning editor Lauren Kuczala talks with longtime Fool contributor and financial planner Dan Caplinger about making a smart refinancing decision. As Dan points out, low rates have come about due in part to Federal Reserve intervention, but with the economy finally starting to pick up steam, this may be your last chance to lock in rock-bottom rates. He also notes that while banks have gotten stricter about lending standards, they're also scrambling to keep their profits up, giving them an incentive to find a way to help you refinance. Dan closes by explaining how to decide whether the benefits of refinancing outweigh the costs involved.

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Dan Caplinger
TMFGalagan

Dan Caplinger has been a contract writer for the Motley Fool since 2006. As the Fool's Director of Investment Planning, Dan oversees much of the personal-finance and investment-planning content published daily on Fool.com. With a background as an estate-planning attorney and independent financial consultant, Dan's articles are based on more than 20 years of experience from all angles of the financial world.

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