Mortgage insurance adds a lot to your monthly housing expense. With the recent uptick around the San Francisco Bay Area with property values it might be time to explore if you can refinance to eliminate the monthly mortgage insurance. I had an instance where the interest rate on the refinance was one eighth higher than the current mortgage, however, by refinancing and getting rid of the mortgage insurance payment the client still saved over $400 a month. It costs you NOTHING to explore your options!