So you heard rates are down, is now the time to refinance? Maybe not.
Published 2:43 pm Monday, March 30, 2026
I know that sounds surprising coming from a mortgage advisor, but it’s often the right answer. Refinancing isn’t a one-size-fits-all solution, and focusing only on a lower rate can sometimes lead to very expensive mistakes.
Here’s a real example. I recently worked with a homeowner who was told refinancing was the only way to access cash. The proposed plan would have cost them nearly $25,000 in fees, just to take out about half of the money they actually needed. Their loan term would reset, their payment would stay roughly the same, and most of the benefit went toward costs, not their financial goals.
Instead of rushing into a refinance, we took a step back and looked at the full picture. They already had a strong first mortgage, so we left it untouched. By adding a home equity loan alongside their existing mortgage, they accessed the funds they needed, avoided resetting their loan clock, and saved that $25,000.
This is why “rates are down” doesn’t automatically mean it’s time to refinance. The real question is whether a change improves your overall financial position. That depends on your goals, how long you plan to stay in the home, and how you want your money to work for you.
My role as your mortgage advisor isn’t to push a loan. It’s to help you understand your options, run the numbers, and make a confident decision that truly serves you. If you’re considering refinancing or accessing your home equity, I invite you to reach out and explore whether it’s the right move for you. There’s always a way, and sometimes it starts with a simple conversation.
Dawn Robbins
Producing Partnership Branch Manager
dawn.robbins@rate.com • (503) 805-7878
Dawn Robbins NMLS ID: 432345; AZ – LO-1022731 OR
Licensed WA – MLO-432345 • Guaranteed Rate 2611