fha mortgage refinance, fha refinance  With the current surplus in residential real estate in the majority of  most populated cities in the country you may be wondering if our current economic slowdown is a good time to look for a FHA refinance. The first thing that you need to look at is what your current mortgage interest rate is. After finding that out, look to see what current rates are and if they are lower than the one you have locked in then it is a good time to look for a FHA mortgage refinance loan.

Some think that you should not refinance unless the interest rate drops two points below what you are currently paying but that is not good advice to follow. If you plan on staying in your house for a while then any interest savings will be appreciated. Before signing a new FHA refinance loan look to see what the closing costs will be. If they are too high it may make the whole process worthless. Look at APRs when shopping around for a FHA mortgage refinance loan as well.