I’m closing my condo purchase today. I settled on a 15 year 5.375% loan. My total closing costs not including prepaid interest and taxes is about $3,000. I opted against title insurance. I’m not expecting any hidden surprises, and expect the closing to be short and sweet this afternoon.

In the meantime since I locked in my rate about a month ago, mortgage rates have swung to recent lows. Mortgage rates are low enough that I have to seriously consider refinancing. I should be able to easily get a 15 year under 4.875%, and a 30 year at the rate I have my 15 year at. The question of course is when do I refinance? That I don’t know. Rates may head even lower or possibly we saw the bottom yesterday. My crystal ball is broken, but over the next few months I will certainly have to ponder that decision.