Low Refi Rates Are Great, But Not for Everyone

Talk about pressure! Everyone and his brother is clenching a mortgage refinance application in his fist and rushing to a lender. With record-low interest rates, you'd be nuts to sit this one out, right?

Actually, wrong.

While no one disputes that mortgage rates really can't get much lower, there are certain homeowners who actually are better off sitting tight with their higher rates. If any of the scenarios below apply to you, refinancing -- even into a lower rate -- could be a bad financial move. Here's why.