Interest rates are hitting new record lows, but banks what banks do makes it even more difficult. Here’s how you can better your chances.

There has never been more appropriate time for trying to refinance your mortgage. Rates are at record lows. The government is devising new programs to help homeowners. The economy and job market are improving, though with a really slow pace.

If we talk about economic theory and predictions, those factors should be resulting in a boom in mortgage refinancing. But locking in a deal is proving to be a challenge these days — even for well-heeled homeowners.

The reason for this is that low appraisals and tight lending standards are making it hard for many borrowers to refinance, even if they have good credit rate and substantial assets. Even those who meet these hurdles can face frustrating waits.

The good news is that borrowers still have something they can do.

By switching assets to your mortgage Borrower, cleaning up your credit and having a better understanding of how the new government programs work, you can improve your chances of scoring a good refinance deal.