I hope this comment doesn’t throw you off, but what you are saying is correct. It is all based on what is going on in the economy, but what I learned was if you get 2 to 3 lenders working on a IRRRL it will help you. They will compete for your business and will start offering lower rates, points, and so forth. I have actually said to lenders that I was offered a better deal somewhere else and they usually try an beat it. In the big picture if it doesn’t really get you a huge savings it’s best to wait. Your 4.3% is a good rate. Of course the lower the better. I had one lender tell me in 2019 that we would never see under 5% for a long time. He was wrong!!!
I have several Veterans locked in on IRRRL refis between 3.25-3.5% right now. The great thing about the IRRRL is the Net Tangible Benefit requirement because it requires that your rate drops at least .5% & that you recoup your closing costs in 36 months or less. If those 2 things do not occur, the lender cannot close your loan.
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