With interest rates at their lowest point in years, many Canadians are considering refinancing their mortgages to take advantage of the interest savings.  It can be nerve-racking to make this type of decision though, especially if you are not clear on how refinancing works.

Many homeowners miss the opportunity to save money through refinancing simply because they lack knowledge on how it works.  Is refinancing a good idea for you?  You know that having a lower interest rate will save you money, but is there a refinancing cost to consider too?  There may be fees involved that you should be aware of in order to make the right decision.  For example, you may incur a penalty for breaking the terms of your current mortgage.  In addition, you'lll want to know about any legal fees to register a new mortgage.

Having said that, once any costs have been accounted for, it is simple to calculate the true value of refinancing.  Why not find out for certain?  The numbers will tell the story and I want to help you see the real picture.

If you have been wondering if you should refinance, but are getting different advice from different sources, please give me a call so we can work together with your unique situation to determine what's best.  This education will provide you with peace of mind, and could save you thousands of dollars in the future.