Here are the top ten reasons to consider a refinance even if you currently have a low mortgage rate. Some of them are obvious and some are not.
Obvious:
You are in an adjustable rate loan that is either at a high rate now or has the potential to go higher.
You have a second mortgage or home equity line with a high rate and large enough balance that if refinanced into a new first mortgage would save you money.
You want to use your home equity to make improvements to your house that will increase its value or "livability."