Did my refi a couple months ago...dropped my interest down to 3.1%, dropped my payment by almost $300. With interest rates now below 3%, this is possibly the best time ever to consider a refi if you have an older higher interest mortgage. The only thing I could tell anyone, is to stay away from places who advertise doing the loan at home on your computer, I checked one of those places out just out of curiosity, and the total cost of the loan through them, was over $8000! I went to my local credit union and their total costs were $2400, plus they hold ALL the mortgages themselves, they don’t sell it to someone else. So, if I have a issue, I can talk to somebody locally, face to face..