Just locked rate of 4.625 with Well Fargo. Potential savings of $270 a month once closed. With the influx of refi apps we may have to close in the 30-60 day window instead of under 30. Not too big of deal.
We are just off our 36 month pre-pay penalty period. Our timing could not have been better.
I shopped around a little bit but anything would be better than our current 6.375 5/1 ARM. Looked at Ing Direct. Low closing costs but 30 fixed is just a better product. Had our original wholesale broker give us some numbers but Wells won out in the end.