Refinance my home now or wait?

Mortgage rates are under 6% now. Those who know the market, should I refinance now or wait? 30yr fixed is 5.625%, so that is attractive…

Just going with CountryWide, looks like I will be locked in at 5.85% no PMI, which is not bad.

What is your current rate and how recent was your last refinance?

get the lowest “par rate” that which the banker says he has to charge you and then go .5% -1% lower. That should get you in the low 5’s. the cost can be written off as a % of cost yearly and have savings on the monthly payment. heck you could get in the 4’s on a 15 yr.

Sorry for the delay in response. I cancelled the refinancing because it made no financial sense. The cost of refinancing compared to the monthly savigs would not be realized for 5 years. And if financed into the loan, it will take $10k in interest paid before I get back to my current loan balance just to save $50/month.

If you can save 1% or more it would be worth it to refinance other than that I would wait.