Yes – if you plan to stay awhile. But even lower mortgage payments can cost you in the long run.Waves of homeowners are rushing to refinance their mortgages. And no wonder: Long-term rates have collapsed to historic lows.Thirty-year home loans can run as cheap as 5% right now – down from 6.4% as recently as last summer. By any long-term measure, today’s rates are a great deal…But before you join the stampede, it’s worth asking: When does it make sense to refi?
By Brett Arrends, Jan 12, 2008, WSJ

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