Was just thinking about this. Bank Of America has offered me 3.625 APR 3.769 30 year no points. That isn't quite a full point under my current mortgage. The pay off from rolled in fees is 40 payments. Not real exciting. I understand credit score and geography affect the offer.

But...

Are we at the bottom of the rates?

I am looking at doing a refi on my 30 yr from 4.25 to 3.5. My guy has no closing costs at all and it's not rolled into the mortgage value, either. I've done this a few times before with him. I think he makes his money on the interest rate float, meaning, he gets a premium when the loan is sold, which happens almost immediately. The only bad thing is that the mortgage starts over at 30 years each time. Not really a big deal in the grand scheme of things anyways, meaning, monthly cost is less and total lifetime interest is way less, and I can always make extra payments as a few of you have said.

Who has your mortgage right now? Go to them first and give them the option to re-fi "as is, where is" with no hassles and so on. After all, they have your paper right now and its to their best interest to not let it go.

Thats what I did and its working well...

Joe A