Refinancing of a mortgage is recommended when
A)interest rates rise.
B)interest rates fall.
C)the escrow account balance declines.
D)two or more points are required by the lender at the time of closing.
E)refinancing costs are low

Question

Quizplus · Accepted Answer

Refinancing of a mortgage is recommended when interest rates fall. This allows homeowners to replace their current mortgage with a new one at a lower interest rate, which can lead to lower monthly payments and long-term savings.

Refinancing of a Mortgage Is Recommended When