Author: Mary Gregs, Contributor

Refinancing a mortgage can be a smart financial move, but it isn’t always the right choice for every homeowner. With fluctuating interest rates and changing financial goals, understanding whether refinancing is worth it depends on several factors. The key question to ask yourself is: Will refinancing truly save me money in the long run? To answer that, you need to calculate potential savings and weigh them against the costs. Refinancing may help you lower your monthly payments, shorten your loan term, or even tap into your home’s equity. However, it comes with closing costs and other fees that could eat…