For those in such a situation, it's hard not to imagine what those lost hundreds and hundreds of dollars per month could be used for instead, especially in the worsening economic climate. Some may even see refinancing as a necessary step to hold onto their home.

So is refinancing the best option at the moment? Find out in the this issue of Your Mortgage magazine out on sale now.

With interest rates at their lowest for more than 50 years, there are some great rates available. The best thing to do is to compare rates from all the lenders. Let us help take the leg work out of doing this - Compare Home Loans now