Answers by Michael Miceli

You can refinance as many times as you want. There isn’t a strict limit, but each refinance comes with costs like closing fees and an appraisal. That means it only makes sense if the savings are greater than what you pay to do it. Most people wait until rates drop by at least half a percent to a full percent before refinancing. If you refinance now and rates drop again, you can refinance again, but you’ll be paying those costs twice. The best way to decide is to partner with a good lender and run the numbers: look at how much your monthly payment would go down, how long it would take to cover the costs, and whether waiting could save you more.