There are many reasons why you should re-mortgage, but you have examine/look at the situation and the costs very closely before you make the decision to refinance/re-mortgage- refinancement

Timing is important, and if you do choose a blip in the mortgage market where you find reduced/lower rates and better terms, you should take advantage of lowering you monthly mortgage costs.

Whether the cost savings are worth it in the long run is what needs to be examined/calculated. What are the conditions that make this a good decision?

If you are able to negotiate a fixed rate mortgage, that would usually be considered more desirable than having a variable/an adjustable rate mortgage, exposing you to constant increases in your mortgage payments.

If you have been able to improve your credit score, you should definitely/make sure to inquire about refinancing since you will most likely achieve a better finance/loan rate.

A change in the economy may have meant that interest rates in general have become lower/gone down, and you can take advantage of these new lower rates by renegotiating your loan - refinancement.

A balloon mortgage may force you into a re-financing, since you have to re-mortgage with your current lender anyway/in any case. This may be the opportunity to find a lender with better rates and terms.

For example, if you have improved your credit situation/score, you may be able to not only lock in a loan at a lower/better rate, but also at a longer term, saving you from the constant refinancing risk of bubble loans.

You may want to consider refinancing if you are currently paying sizeable mortgage insurance premiums and are now/currently in a position to eliminate them.

But even after examining all of the good reasons to re-mortgage your home, the biggest question is/challenge is deciding how much it is going to cost now. You need to take the time to calculate your overall savings against the one time fees of re-mortgaging (you can get that number/those figures from your lender) and see what the advantage is/may be.

Quite simply, if you have to pay more in closing costs on a newly re-financed mortgage/home loan than you are going to save over the balance of your old loan, re-mortgaging your home is not worth the/your time, trouble and expense.