You can take a new and more important to pay not only your old loan loan, but other debts too.

Of course, if you think that higher interest rates will hurt you financially, then it is a better idea to take a loan on normal mortgage refinance lowest interest rates. Some owners are better suited than others for this type of loan.
In simple terms, mortgage refinancing is to apply for and take on a new loan.
After refinancing, the softness of the debt may be extended or shortened, or the new debt may carry a lower interest rate, or a mixture of these options.

This results in the refinance home mortgage rates rise, because lenders hold to present their loans with lower capitulates.

There are generally three reasons that people looking to refinance their home.