You can shave thousands of dollars and years off your home loan if you can swing a bit extra to prepay your principal each month.

Mortgage interest rates are on the decline. Is now the time to refinance your mortgage? We asked some experts.

Mortgage rates are at a two-year low, and nearly 5 million Americans could benefit from a refinance. Here's what to know.

Refinance rates on 30-year mortgages subtracted another 2 basis points Monday, lowering the national average to 6.27%. That's now the lowest reading for 30-year refi rates in almost two weeks. But it's also about a quarter percentage point above the Sept. 16 low of 6.01%—the cheapest level seen in 19 months.

Mortgage refinance closing costs can eat into interest savings, so calculate your break-even point to determine if refinancing is worth it in the long run.

How long do you have to wait before you can refinance your mortgage? This guide will walk you through everything you need to know.