If you have been thinking of refinancing now is a great time. I just refinanced my mortgage to a 5/1 for a rate of 3.125 0/0 This is the first time I have ever done a 5/1 mortgage. I normally stick with the traditional 30 year fixed but this was just too good of a deal to pass up. I was at 5.375 and I am now saving well over $300.00 a month! I am going to put that extra savings on my View Post