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.

Whether you are looking to buy your first home, move home, refinance, or invest in property, a mortgage broker can help. Access loans from all the major lenders, get help with paperwork – plus there is no charge for this service. Get help from a local mortgage broker