"Mortgage rates are near historical lows. But should you refinance if you are near retirement? It might be worth your while to crunch the numbers. If some or all of these apply to you, then refinancing might save you some money in the long run."
- “You are paying at least 1 percent more than the current rate.
- You plan to stay in your current home after retirement.
- You have at least 20 percent equity in your home, which will make it easier to refinance and get the best rate.
- You have good credit and can get the best rate.
- You have an adjustable rate mortgage.
- Your bank is offering a low or no cost refinancing option."
Read the details in USNWR Money by Joe Udo
http://money.usnews.com/money/blogs/On-Retirement/2012/09/07/should-you-refinance-near-retirement
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