'Refinancing isn't free:' How to navigate refinancing a mortgage

 

When interest rates are low, homeowners may look to save money by refinancing, which means getting a new mortgage with a better term or interest rate to lower payments. Mortgage rates have steadily declined since November 2018, according to weekly data from Freddie Mac, also known as the Federal Home Loan Mortgage Corp.

 

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By Anna Lotz
Editor, Tomball | Magnolia Anna joined Community Impact Newspaper as a reporter in May 2016 after graduating with a degree in journalism from Cedarville University in Cedarville, Ohio. In July 2017, she transitioned to editor. Anna covers education, local government, transportation, business, real estate development and nonprofits in the Tomball and Magnolia communities. Prior to CI, Anna served as editor-in-chief of Cedars, interned with the National Journalism Center in Washington, D.C., and spent time writing for the Springfield News-Sun and Xenia Daily Gazette.