Interest rates have spiked recently, making homeowners second-guess refinancing. However, there are still plenty of reasons that refinancing makes sense for your individual situation.
1. Home Improvements Can No Longer Wait.
If you need some extra cash for home improvements that just cannot wait any longer, refinancing your home can be a great way to get it. By taking out some of the equity you've built up in your home, you can finally replace that old roof, add extra insulation to reduce winter heating bills, or build an addition to make room for a growing family.