A record number of people refinanced their home mortgages last week according to a national mortgage brokers group.
Uncertain times are down the road, so its best to take advantage of the savings now.
Experts say making the change could save homeowners thousands of dollars in the long run, and help give them more financial flexibility right away.
One couple told us they saved enough to pay off their other debt and enjoy retirement.
Local mortgage brokers say its not just a way to save some money.
"Its a chance to restructure your financial life. Its a chance to put some money aside, do some home improvements, to get some extra interest off your house,” Tony Henderson says of ACH Mortgage Company.
Henderson also recommends people try and learn as much about the refinancing process, so they can get the best deal in the long run.