There are people that think

[vizcaya]

There are people that think rates will continue to fall, and wait till its too late.

I agree that if the new rate is better than your current rate, and you are able to stay in the home long enough to recover costs, its a good deal.

I refi everytime the numbers make sense. On my second refi.

Bought home late 2007 , rate was 6.5 30yr fixed.
Early 2008 I refi at 5.375 30 year fixed.

Refi just closed last week at 3.75 15 yr fixed.