[quote=bearishgurl]I think it is self-defeating for a homeowner to serially refinance, fold the closing costs into the new mtg every time and start all over again every 1-3 yrs, but that is just me :={[/quote]
The biggest difference is, 25-30 years ago, rates were well above the historical average. Today, it’s well below the historical average. Common sense tell me we always revert back to the historical average. So, getting a 30 year fixed at 4% or an ARM at 3%, when historical average is around 8%, is the risk really worth 1%? How long do you see ARM staying below 4%?
