Is this a good time to refinance?
Well, interest rates are down. If you bought your home, or refinanced between March and October of 2006 or April and November of 2007, this is an excellent time to consider a no point, no fee refinance. That's right. It costs you nothing. You can save hundreds of dollars a month, just by taking a few minutes to fill out an application.

What is your goal in refinancing?
Most folks refinance to take advantage of lower rates, and to lower their monthly payment. But there are other possible advantages, too. Like freeing up some of your equity to consolidate debt or invest.