With mortgage interest rates at historic lows, many homeowners are contemplating whether they can refinance their mortgage and lower their monthly payment or save on interest charges. And for many buyers, refinancing might make financial sense right now.

Getting a mortgage is a major financial decision, so it’s wise to first familiarize yourself with the home mortgage process.

If you’re thinking about refinancing and wondering when to refinance a mortgage, consider your specific situation and explore how it benefits you. Paying off an existing mortgage and replacing it with a new one amounts to a major financial decision for most homeowners.

The major indices had mixed returns last week with the Dow Jones down 1.29%, and the NASDAQ and S&P 500 both up 1.27% and .36%, respectively. Concerns of rising Covid cases in Europe led to the tech stocks outperforming the other sectors.

To gain insight into the current policies and practices of the Federal Reserve (the Fed), we first need to look back into recent history and review the series of events that led us to where we are today. As a backdrop to the entire story, it is critical to understand that former Fed Chairman Ben Bernanke was a lifelong student of the Great Depression.