George D wrote:

I close on a refinance on Monday. The purpose was to reduce the interest rate, no money out no
lengthening or shortening of the term. We refinanced 6.25% to 5.23% with Bank One. Total closing
costs $95.00 and no points. I don't know what it did to the payment yet but it has to be some lower.

You probably have already verified it, but make sure that there are no
prepayment restrictions or penalties tossed in at the signing. Them's walking
words.