If you took out a mortgage in the last year or two, you might still be reeling from the closing costs you paid — and understandably hesitant to repeat the process even if mortgage rates have ...

Matt Richardson is the senior managing editor for the Managing Your Money section for CBSNews.com. He writes and edits content about personal finance ranging from savings to investing to insurance.

Katherine Watt is a former CNET Money writer focusing on mortgages, home equity and banking. She previously wrote about personal finance for NextAdvisor. Based in New York, Katherine graduated summa ...

Americans are seizing any opportunity to refinance their mortgages. In the week ending June 27, applications to refinance rose 7%, the Mortgage Bankers Association, an industry group, announced on ...