Some 58 percent of homeowners who have mortgages—that's about 28 million households—pay interest rates that are higher than today's bargain rates. Many could save thousands by refinancing.

Our mortgage refinance break-even calculator can help you estimate exactly when you’ll recoup the costs of refinancing. Here’s an example, assuming a borrower with a 30-year fixed-rate loan who ...

Otherwise, you could potentially lose money. You can calculate your own potential savings by using Kiplinger's Mortgage Refinance Calculator and determine which rate will help you get to your ...