• DBrilliant said on Sep 22, 2006....

  Hey Eric,
  
  By buying a home and locking in the interest rate you have secured a stable financial position for yourself and your family. This is far more important in the long term than worrying about mortgage rates going down temporarily. The general rule of thumb is that if you can lock in a re-fi for at least 1.5% or more below your current rate then you may want to consider doing it. But only if your plans are to stay in the house more than 5-7 years. So quit kicking yourself and enjoy your fixed payments knowing full well they will not go up ever. Don't forget, you can always re-fi to a lower fixed rate. But if you had gotten into a variable you eventually would have every reason to kick yourself!
  
  Regards,
  Dave Brilliant
  Check out my article on buying property on Hawaii: http://ezinearticles.com/?id=187267
  

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