3 Things You Need to Do Before Refinancing Your Mortgage

The average 30-year mortgage rate in the U.S. has decreased from 7.9% to around 6%. Homeowners considering refinancing should evaluate potential cost savings using a mortgage calculator and understand associated fees. Improving credit scores can lead to better interest rates, so working on credit may be beneficial. Additionally, it's crucial to shop around and compare rates from multiple lenders, as even small differences can result in significant savings. Refinancing can be advantageous if rates are lower than when the home was purchased.