The short answer - YES. If you have good credit and at least 20% equity in your home, and want to refinance, don't wait another day. Call your mortgage professional and lock in your rate!
This is an excellent time to do it. Yes, rates could drop further. You could hold out for even lower rates but if you do wait, understand that you're taking a gamble that may or may not pay off. It is possible that home values may continue to decline in the area that you live in. You will be taking an uncalculated risk that your property may be worth less & find you're unable to refinance due to declining property value. Lenders do not want to loan money on property that's declining in value.
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