Since interest rates are continuing to stay low, lately I have been receiving numerous calls from buyer clients wondering if they should re-fi.   I generally defer them to their mortgage lender, however, I like to have some general advice so as a rule of them I suggest they plan to be in their home at least 5 additional years and their current mortgage rate is above 6.25% they might consider a re-fi.  The cost to re-fi can be in the $2K-$3K range and you likely need a 1- 1.5 point spread it rates to come out ahead over time. In addition you typically will need 20% equity and a credit score of 720+ to get the best rates