Refinance Mortgage Center

With rates a full point lower than where they were three years ago, many homeowners are looking to cut their monthly payments, but with home prices down in most markets, the "loan-to-value" ratio will most likely be too high for it to make sense.

These 10 markets have seen appreciation in the past year, making the prospect of refinancing more doable. The average owner in these cities could save between $1,000 and $2,500 per year.