Refinancing mortgage rates are interest rate charges that normally take a period of three to five years. It is a home loan interest that we can normally receive from our personal banking institutions as a means to leveraging in to supplying one'sprimary need for appropriate shelter. Your bank evaluates the loan, as long as the debtor is able to pay back the loanaccording to the banks evaluation with collateral. Collateral means anything that will compensate for defaulting in a loan obligation. The collateral is sold in an auction to the par value of the defaulted loan value and rises according to the auction bidding.Loan obligations on mortgages have proven to have negative effects on the financial markets as a whole, a perculiarly good example is the 2008 financial crisis that was primarily caused by the housing market bubble that burst. Following the dot.comor 2000 technology stock market flash crash, investment firms dived into the housing market with enormously large amounts of bond portfolios investments that within a decade devastated the entire financial markets.