Back in April, I refinanced my mortgage. The timing was good. I caught a low point. The rates went up subsequently. I just noticed the rates have dropped back to the same levels again.
If you missed the April lows, now you have another chance to start calling for refinance rates. The benchmark rate for 30-year fixed should be 5.0%, no point. For 15-year fixed, it should be 4.5%, no point. Those are the rates I see at the lender I used last time. If your current mortgage rate is higher than the rates for a no-cost refi, refinancing will save you money from day one.
I will start watching the rates. If the rate drops another quarter percent, I will refinance again.