Your borrowing situation often informs your decision to refinance. Consider current market conditions, along with personal refinance goals, to determine if now is a good time to refinance. Start by weighing the cost of refinancing against your actual savings. For instance, if you intend to sell in five years, and a refinance only saves you $100 per month, but the upfront origination cost is $6,000 — it might not make sense to refinance. If your savings are greater or you plan to hold the new loan longer, a refinance may make sense.