Should you refinance your mortgage? If you have an adjustable rate mortgage and plan on kecping your house, yes. If you can reduce your fixed interest rate by 1-2\%, yes. If you have a high interest My Money rate second mortgage and the balance is large, yes. Brett Gardner and Nellie Viner are remodeing their home. They took out a second mortgage for $120,000 at 4.58 for 10 years their frst mortgage is $390,000 at 3% for 25 years. Should they refinance both mortgages into one 30 year mortigage at 2.875% ? Why or why not? [LU151(3)