Looking to refinance your mortgage amid higher rates? Here are six options

If your mortgage rate starts with a “1″ and you need more money, the last thing you want to do is refinance and lose that miracle rate.

Back in January, 2021, for example, people were snagging five-year fixed mortgages at rates as as low as 1.23 per cent. As we speak, refinancing that mortgage costs 6.14 per cent and up.

So, if you don’t have a line of credit and need to tap home equity for more funds, some methods are much better than others. Here’s a look at six options.