The rate on our home loan is 3.81% …$670,000 loan. We see rates advertised at 3.55% and wondering if it is worth refinancing? Is it worth it and what questions should we be asking?

Hi Amanda,
Your rate is ok but it could potentially be worth looking at other rates. It really depends on your circumstances and what features or functionality you want from your lender.
If you did discharge your current loan and there were no penalties, the cost of moving is approx $600 plus any application or package fees on the new loan.
You would need to save 0.10% to break even, assuming that neither lender changed their variable rates during the period.
An added bonus is that some lenders offer cash back to cover these costs too.
Give your broker a call and ask them to assess your position and your needs
Good luck
Scott