When is the best time to refinance a mortgage loan?

This is the right time to refinance your mortgage. As of March 21, 2021, the average mortgage refinance rate is about 3.03%. But make sure that you are are financially prepared to refinance your mortgage. Don't refinance just because the interest rate is low.

If you are getting a mortgage with a lower interest rate, it is the best reason to refinance your mortgage.

If the interest rate is on the wane, you can consider refinancing to shorten your mortgage term.

So, you can pay significantly less in interest payments.