Today, as the case has been for the last 2 months, we had 4 rate changes today.  Since I am a correspondent lender, our rates are typically lower than our local banks and much lower than local broker shops.  Today, I was quoting 5.5% with 1 discount point, for FHA/VA loans.  Yesterday I was at 5.875% with 1 discount point.  See my web site for the APR.  The market is extremely volatile.  Stated refis today were around 6.25% with 1 discount point for you realtors who need to rate/term refi.  Again, keep in mind that I am not a broker, but a correspondent lender and there is a major difference.   If refinancing will save you money, get cozy with your favorite lender and get on their rate watch sheet (if they have one). You will know if they have one if you get regular calls or emails with updates.  Keep in mind the breakeven on a refi.  Breakeven in # of months = Cost of the refi/(current payment-new payment)/12.