Thinking seriously about refinancing your mortgage, but aren't really sure whether you should do it? Well, here's a tip that can help you make the decision.

The general rule of thumb in the financing industry is that it will pay you to refinance your mortgage if the interest rate on your home loan is at least 2% higher than the prevailing current rate. There are exceptions to this, but the general rule is that the cost of the fees and the paperwork don't make it economically sound to refinance unless you can achieve a 2% reduction in your rate.

You can find more information about whether to refinance if you visit the Ginnie Mae web site.

If you have decided to refinance your mortgage, remember to compare different web sites to find the best terms and conditions for you. And don't forget to shop locally. Your home town bank may have better rates than you can find on the Internet.