Refinancing of a mortgage is recommended when:
A)interest rates rise.
B)interest rates fall.
C)the escrow account balance declines.
D)two or more points are required by the lender at the time of closing.
E)the escrow account balance increases.

Question

Quizplus · Accepted Answer

Refinancing a mortgage is most beneficial when interest rates fall, as it allows the borrower to secure a lower interest rate on their mortgage, potentially saving them money on their monthly payments and over the life of the loan.

Refinancing of a Mortgage Is Recommended When