BizSugar.com › Finance › 5 Times When Refinancing Just Doesn\'t Make Sense - FinancialWellness.org

Refinancing your existing interest rates on various loans is very important in many cases; especially with credit cards, you can often negotiate for a lower interest rate.

However, other times, refinancing can be a bad idea and get you into more financial hardship.

As the chart below shows, mortgage rates have been trending downward at a steady rate.

We are now experiencing a record low in interest rates, leading many people to want to refinance.