Mortgage payment calculator from the beginning
Whatever the reason for a refinance, mortgage holders can currently benefit from some of the lowest rates the country has seen in decades. Rates on a traditional 30 year mortgage were around 5. 1 percent the second month of 2009. As the current rates offer a great opportunity to refinance, mortgage holders may decide now is the time. But refinancing may not be the wisest choice for everyone, regardless of how low the rates are.