what are discount points on a mortgage
what are discount points on a mortgage
what are discount points on a mortgage

 
Also, take the general approach that the monthly payment is more important than the interest rate.

The main reason behind refinancing is that sometimes changes in interest rates based on changes in the financial markets so that some people find it difficult to pay their current mortgage interest.

find me a cheap loan pennsylvania mortgage lender closing costs on a refinance

Prepayment Penalty: A penalty is assessed if the loan is refinanced or repaid early.

Try not to rush and make a rash decision just to beat the possibility of back interest rates, but do not sit and wait until it is too late if it really turns proved to be in your interest to refinance.
If you make a right refinancing and want a lower interest rate, this is what the VA home loan is designed for streamlined refinancing.

If you plan to live in your home for a few years, it may be wise to pay one or two points to reduce your interest rate and overall payment.