Folks, I have a $800K+ mortgage with a 7 Year ARM (currently in my 2nd year) for my house (not rental property). My current rate is 3.25%. I was planning to shop for refinancing about 1 year before my ARM expires. Should I refinance now? When would it make sense for me to refinance? Also, I have excellent credit score, would my lender lower my interest rate without me having to refinance?
Thank you!