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Message: <blockquote data-quote="Sunshine7388" data-source="post: 1981818" data-attributes="member: 25782">Another thing to consider is will your PMI go up. When I bought my home it was lower than it is now. Right now our PMI is under $50, if we were to refi it would be close to $100. There are alot of things to consider when refinancing, but you are right, interest rates are pretty low right now, and there is no telling when they will go back up. If anyone is considering refinancing, call a lender and ask if they would mind doing a cost sheet for you, so you can see what your new payments would be and all the closing costs.</blockquote>