Right now, interest rates are still very low. If you have a mortgage, you may be considering whether or not you want to refinance. Ask yourself:

• How long do you plan to live in your home? If it’s less than one year, refinancing may not be a good option since it takes that long to recoup your closing costs. (Closing costs can be paid up front, rolled into your new mortgage or eliminated by choosing a higher interest rate.)
• Is it time to change from a long-term to a short-term mortgage? This could greatly accelerate your home equity buildup.
• Should you use this tax-deductible resource to liquidate cash for college, home improvement, debt consolidation, etc.?
• Are you satisfied with the size and location of your current home, or should you take advantage of this low interest rate climate to make a move?
• Contact a Loan Officer or your tax advisor for guidance.