Does a streamline re-fi make sense with current MI rates?I have an FHA loan and closed on my home in August 2009. I am currently at 5.5% interest rate with a low 0.55% monthly PMI rate. Is it worth refinancing when my PMI rate will go up to 1.25%?Loan details:- 5.5% loan- PMI rate is 0.55%. - house value very slightly upside down - current on payments- 800+ credit score & plan to stay in the home for at least 5 years.The drastic increase in PMI rates significantly reduces the savings I would gain from the mortgage rate decrease. I keep hoping they will come out with a HARP-type program for those of us in this situation, but it hasn't happened yet and I'm expecting rates to go up after the election. Any thoughts?November 05 2012 - Sacramento00YesReport a ProblemProblemSelect oneOffensive contentIrrelevant contentSpam (pure self-promotion)OtherDetailsYour emailPlease enter a valid email address.Submit CancelContent flaggedWe will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.We're sorry. This service is temporarily unavailable. Please come back later and try again.