I just talked to my current mortgage holder (I’m 3+ years into a 30 year fixed) and was offered 4.75% on a 15 year fixed, 4.5% for half a point, about $3K in costs, with 74% LTV ratio (based on the 2005 appraisal, which in my area would probably be about the same — NO, I do not live in California!). Non-jumbo.

I’m inclined to wait a bit and see if it goes to 4.5% with no points. Yes, I know I can make extra payments on the 30 year and accomplish the same pay-down, but the fact is that I’m not being aggressive enough about it. I also wonder if another lender will do better by me (this one is Wells Fargo).