A while ago I mention that I was going to refinance my home. We had a 4.675% fixed for 30 yrs. Good rate. A month ago the rates dropped again and we decided to refi. Why? Because it was a no cost refi, meaning we don't pay a dime. So now our rate is 4.125% fixed for 30yrs. It's only a .5% drop, but it's still worth it. $100 a month in the bank is better than 0.
Now we are looking to refinance our investment property. We get some money back from loans we loaned out, so we paid down the investment until it was 70% of the assessment. Now we can look at lowering the 6.5% to maybe under 4.5%. Hopefully, we'll have a net 0 from that property instead of negative cash flow. In time, it'll be positive, but for now net 0 is good.