Their $237000 adjustable- rate loan resets every month, ...US Housing Crash Deepens in 2008 After Record Drop (Update2)Bloomberg -3 hours agoThe Hickses refinanced the mortgage on their four-bedroom, 1300-square foot home two years ago. Low mortgage rates in turn lead to bigger savings from your monthly payments. And with a refinance mortgage loan, you can take advantage of this basic financing concept and reduce your monthly repayments while at the same time, increase your monthly savings.