Summary: Wondering if it is ok to get your home refinanced? Dispel your myths and look at the positive side of refinancing. You might be able to save a lot in the process. Often times when mortgage lenders contact you, you may have considered getting your home loan refinanced. In fact there is no harm in going with this decision if you can save a few thousand dollars or make your monthly payments more affordable. However, there are many myths that make people believe refinance is not for them. Here is an attempt to dispel all such myths so that you can think clearly and come up with the right decision. Myth #1: It is a bad time to refinance when the Fed interest rates are rising The best time to refinance would be when the rates are low. However, this doesn’t mean you have lost your window of opportunity if you see the Fed rates climbing up. Fed rates do not necessarily affect mortgage rates, at least not directly. Even if mortgage rates do follow the trend, this is not you...