Good job on the research SDO… As sdr said get a good faith estimate. As far as rates go the rate you have quoted looks okay. If you want to see the trend then just pull up the 10 year treasury yield to see if it is trending up or down. This will give you an idea of which way rates are trending so perhaps you can get a better rate if they seem to be trending down. Otherwise if they are trending up then lock it in… Once upon a time I was refinancing a property and I had a smoking rate. However the mortgage broker had my loan submitted to a lender that went out of business the week before I was to sign loan docs. They basically got caught in a rate hike. I think it was about 4 years ago that rates really bottomed out in like June but then moved up VERY quickly and by August this lender was done. My loan never got funded and I was screwed. So yeah it pays to make sure your lender is reputable. However that being said I know it is hard for regular guys like us to assess the quality of the lender.
As Perry said you may be better served to sell rather then refi but it all depends on your long term plans.
