Rate drop

[Kyung]

No. No. Not the page rates.

The interest rates have dropped. Is anybody going to refi their house?

We're thinking about it. But the question is can we afford to do the refi. Anyhoo. If you've got a mortgage guy, you should check it out. Might save you a few hundred a month.

[Cathryn Bauer]

Yes. We're going to be doing that in the near future.

Ted (husband) has a degree in economics, and I have lots of reason to trust his judgment that now's the time.

[Patricia Babits]

My house (otherwise known as my big mistake) has gone down $200,000 in value, and we have no cash, so I don't think anyone out there would do a refi. If you think I'm wrong, tell me.
Kyung, I think the general rule is if you can lower it one percent, it's worth it. Otherwise, the fees outweight the savings you get on your monthly rate. At least that's what my friend/mortgage broker told me.