refinance

Hi,

There's no such so-called 'good time' to refinance. As long as there's equity in your property, you can always refinance. People generally refinance to get a low interest rate on their mortgages. If there's plenty of equity in the house, one can do a cash-out refinance and use the extra cash to pay off credit card debts or for some other purposes. At present, many people are refinancing their existing mortgages as the current interest rates are quite low.

amen.

there is such a thing as a bad time to refinance, though: if rates are higher than what you are currently paying, you ought to avoid refinancing. if you are doing so in order to take cash out that you will use for a foolish investment, that'd be a bad time. if your home has lost its value, that would be a bad time to try to refinance, also.

refinancing can be done due to various reasons as explained on http://www.mortgagefit.com/refinance.html

The easy way to figure out if refinancing makes sense is to figure out how long it will take you to pay off the closing costs with the savings you realize with lower monthly payments. If it is longer than the time you plan to stay in the house, then refinancing might be a good option. You have fewer tax breaks with a lower-rate refi, so be sure to ask your lender for a refinance break-even table that will take that into account.

That woudl depends on lot of factors

Interest rate indivial situation

and more