To clarify, my tactics are based on a couple personally held expectations:
1. I am highly unlikely to NOT refinance again in the next 5-10 years, let alone 15 years, due to either comparable low rates (and lender credit) making it worthwhile to refinance, or from having to move house. (anecdote: I personally paid points for my first mortgage in 2008 and regetted it soon after when life changes prompted me to relocate.)
2. Rates are not unlikely to “fluctuate but stay low” for the next 1-2+ years.
As has been stated before, these tactics (frequent refinance with lender credit) are especially good in a descending-rates environment. But, I believe they’re also pretty good in a environment stated by #2, based on expectation #1.
My tactics aren’t for everyone, but they’ve served me well for the past 4 refis and I’ll continue until rates rise to make it no longer worthwhile.
Again, if anyone knows of better online rates than absolutemortgageco.com, PLEASE LET ME KNOW!
