Rates are fantastic, prices have stabalized and many folks are planning on staying in their current home longer. So the question is should I refinance or not?

Reasons to Refi:
1. Lower rate
2. Change from ARM to fixed rate
3. Cash out
4. Divorce or dissolution of a business partnership

Reasons to not Refi:
1. Moving soon
2. Cost outweighs savings

To find out how long it will take to recapture the cost of a refinance just take the total cost and divide it by the monthly savings = number of months to break even. After you break even your net savings begin every month after that.