There are a number of great reasons to apply for a home refi today.
Lower your monthly payment
Switch from an adjustable rate mortgage to a fixed loan program
Secure a lower interest rate
Improve the terms of your current loan and pay off your mortgage faster
Pull cash out
Consolidate debt
There are many great reasons for a home refi :
The rate on your adjustable mortgage is about to go up
The interest-only portion of your loan is about to expire, requiring principal payments
A ballon loan is nearing maturity.