What I say on refinance rates
* If you don't want to wait for 2%, 1% may be more than low enough. The classic wisdom is that interest rates need to be at least 2% below the interest rate for your current mortgage to make a refinance worthwhile. Current wisdom suggests that 1% may be more than enough. With a mortgage calculator, determine whether you would save money by refinancing mortgage loans with an interest rate of 1% less than your current mortgage rates. * Beware predatory lenders.