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Refinance question. We refinanced in 2016 from 4.25 to 3.6. All the recent questions on the board got me looking and I have a few friends who just refinanced below 3, which is mind blowing.
I am not sure how mortgage interest rates are determined from person to person? Such as, how did my friend secure a 2.5, 30 year and best I am getting is 2.8?
I got refinance options for a flat 3 with no points and 2.8 with points. Points are in a sense paying the lender for a lower interest rate? It looks like the points would cost me $765.
Break even for us looks like right over 4 years on refinancing and we'll definitely still be in this house. Wonder if I should wait for rates to drop even further or other questions I should be asking/considering?
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