We all of us want to save money. I don't think I can name one person that I know of that is happy to spend more money than they have to, either on their personal bills or their mortgage. There has been so much talk in the market today because home sales have slowed so much about refinancing your home mortgage. This can either be a good thing or a bad thing depending on your own personal circumstances. Here are some tips to help you to know if you should refinance your home mortgage and how to know that you are getting the best rate.

1. Points or no Points - When it comes to lowering your rates you will need to weight the benefits of having a lower rate vs. paying points up front. You may end up paying a lot more depending on your choice and how long you plan on keeping your mortgage.

2. Sneaky Interest Games - Don't fall for the 0% apr unless it fits in with your master plan. A lot of brokers will try to get you locked into a low interest rate that will balloon on you in a couple of years and leave you out on the street.

3. Hidden Fees will Hurt You - If your new mortgage rate seems too good to be true then it probably is. Check for hidden fees in your mortgage that will make up that suspicious difference.

4. Have Faith - You have a legal right to a good faith estimate. Get a copy of this document and go over it with a fine tooth comb, it will reveal where there is a real problem.

5. Start the Clock - Weigh the costs carefully of how long you will be staying in your home vs. how much of a savings you will be getting in a refinance. Make sure you include closing costs in your decision.