News release: “The Federal Reserve Board announced the launch of an online resource to help consumers make informed choices when refinancing a home loan. A Consumer’s Guide to Mortgage Refinancing contains useful tips and answers to frequently asked questions about the refinancing process. The information provided can help consumers determine when refinancing makes sense, what a refinancing will cost, and whether it is advisable to switch into a different type of mortgage. Consumers will also learn about mortgage terms and how to calculate the time it will take to recover refinancing costs before benefiting from a lower mortgage rate.”