Are you wondering if it is the right time to refinance your home? Mortgage refinancing has many advantages, but it's not for everybody. That's why it helps to know some reasons why you would want to refinance. To Take Advantage Of A Low-Interest Rate   The main reason that people refinance is that they want a lower interest rate. They may have bought their home at a time when interest rates were high, and now they've dropped enough that refinancing is a viable method to save some money.