refinancing
Intermediate (B1)
IPA: /ˌriːˈfaɪnænsɪŋ/
KK: /ˌriːˈfaɪnænʃɪŋ/
noun
Definition
The process of obtaining a new loan to pay off one or more existing loans, often to get better terms or lower interest rates.
Example
Many homeowners consider refinancing their mortgage to take advantage of lower interest rates.
Conversation
Have you heard about the benefits of refinancing your mortgage?
Yeah, I've been thinking about it lately, actually.
It can really help lower your monthly payments if you do it right.
Definitely, I should look into refinancing before interest rates go up.
Synonyms & Antonyms
Synonyms
restructuring
rescheduling
consolidation
Antonyms
default
dissolution
liquidation
verb
Definition
To obtain a new loan to pay off an existing loan, often to get better terms or lower interest rates.
Example
She is refinancing her mortgage to take advantage of lower interest rates.
Tense Forms
Past: refinanced
Past Participle: refinanced
Conversation
Have you thought about refinancing your mortgage lately?
I have! I've heard it can save a lot of money.
Yeah, I read that refinancing can lower your interest rate significantly.
Root Explanation
Refinancing → It is formed from "re-" (meaning again) and "finance" (from Old French *financer*, meaning to provide funds). The word "refinancing" means to provide funds again, typically to replace an existing loan with a new one under different terms.
Memory Tip
Think of 'again' ('re-') and 'providing funds' ('finance') — refinancing means providing funds again, often to improve loan conditions.
Visually Confused Words
No commonly confused words.