Here is some GREAT ADVICE---REFI NOW
 

I just bought a mortage 60 days ago at 6.25......Can get them now at 5 or less...They won't drop too much more I think...I save a few 100 a month

anyone paying above 6 should def refi....

Already on it :) Shooting for 4.75, fingers crossed.

problem is most people that bought 3 or 4 years ago have no lost all their equity and are upside down, so they can't refi without dropping another 10% to 20% as a down payment on the refi.

They will drop after new year. Between 4 to 4.75.

They will never go down below 4.5

in that case I get your point...And some people have mortgages they are locked into...

on an approx 400k mortage which was at 6.25...the refi is about 7k with title ins...savings is over $200 a month... so on total amount i figure it takes about 3 years to break even.

it does depend on your future plans like Im planning to move in 5 years...so for me its not a home run but it still pays for itself.

Especially for people planning to stay at there homes a LONG time its fooolish not to lock in at such low rates

I would wait till new year.