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In essence I agree with both my counterparts, and their explanations. Personally I like "rexonator's" answer more!
Before refinancing take a realistic look at your scenario, not only for the refinance of your home mortgage. But also anything, like employment and other contributing factors. Is your job related in any way to the auto industry??? Is your position at work, secure? Is your employers financial situation very stable? Like your planned years in the home, fees you will incur, penalties, etc.
Generally speaking if you can safely answer those questions honestly and positively, then "Get-R-Done! * The only contention to consider is the Auto Industry! If the government doesn't at least help them, then this whole country is going to go into a tailspin! Unless your current rate is 7% or higher,Try to hold out for that decision or until rates drop to the expected 4% area.
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Should I refinance now or wait until after the first of the year?
ballardjohn
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