It is general more advantageous to refinance your home mortgage

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Refinancing when market interest rates have fallen allows borrowers to obtain a lower interest rate on their mortgage, which reduces their monthly mortgage payments and overall interest paid over the life of the loan. This can potentially save the borrower thousands of dollars over time. Refinancing after interest rates have risen would not typically be advantageous as the borrower would likely end up with a higher interest rate than their current mortgage. While rising home prices may increase a borrower's equity in their home, it does not directly impact the cost of their mortgage or interest rate. Similarly, falling home prices may reduce a borrower's equity, but this does not necessarily mean that refinancing is the best option for them.

It Is General More Advantageous to Refinance Your Home Mortgage