What is the definition of Refinancing Mortgage Rate Today?

"Refinancing mortgage rate today" is like trying to get a fresh coat of paint on an old, sagging couch but instead of a new color, you're trying to convince your lender to throw in some extra "interest savings" credits. It's a fancy term for updating the numbers on your mortgage, but it sounds like you're in a post-apocalyptic world where only the most desperate homeowners have access to such luxury.

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Here's a chilling example: "After years of living like a cat in a tree, John decided today he needed to refinance his mortgage, but instead of getting a better deal, he ended up paying double the interest on his couch's cushions."