cash-out vs rate-and-term refinance

Is refinancing worth it Raleigh NC homeowners ask in 2026, and the answer starts with the rate they already hold. With most owners locked below 5 percent and rates above 6, refinancing the full balance can cost more than it saves. Kevin Martini and Logan Martini at Martini Mortgage Group weigh rate-and-term against cash-out, calculate the true break-even, and flag when a HELOC protects a low rate better than a refinance. For owners in Raleigh, Cary, and Apex, the honest answer is sometimes to leave a good loan alone, and only an independent read settles it.