Mortgage rates have been hovering near historic lows for five years. While the current average rate of 4.19% for a fixed, 30-year mortgage is not the lowest it has ever been – that was 3.35% in December 2012 – it’s still lower than at any time between 2010 and 1971, when Freddie Mac started keeping records. Exactly when rates will rise significantly is anybody’s guess, but there’s no question that will happen. This could mean you’ll never see a better time to lower your mortgage rate and your monthly payment by refinancing – but if, and only if, refinancing will save you money. For some expert advice on this topic, CLICK HERE.