Wish I had waited to refinance

omurray

I just refinanced last month, but had to lock the rate in late June.  Rates are 1/2 point lower already.  So frustrated.  I know that's how it goes, and it could have just as easily gone up, but still.  I'm considering refinancing again and my first payment isn't even due yet.  Grrrrr. 

s_angel

we just closed yesterday on a 4.5% refi and I am already worried we too should have waited!

MrsStubbs

We just refinanced at 3.75 and I am just happy that it is lower than what it way. Our home will be paid for in 10 more years!

s_angel

MrsStubbs:

We just refinanced at 3.75 and I am just happy that it is lower than what it way. Our home will be paid for in 10 more years!

THAT is fabulous.....we knocked 4.5 years off but that still means 20 years left. 10 years you can actually see the light at the end of the tunnel! May I ask if you paid points or closing costs?

MrsStubbs

We did pay closing but we went with a local bank. I figured with the great interest, it was better to pay closing and "shop local" since we also have a business in town.