Thank you for your replies....here is a little more info

1.) no prepay penalty

2.) when the fixed rate period ends it will go up 2% and top out at 10%

3.) i have lived in the house for 7 years

4.) i plan on staying for awhile

<t>Situation:<br/>
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i have a fixed 5-year jumbo loan at 4.5% whose fixed rate time expires june 2008. With all the current issues in the loan business what should i do? should I wait until march/April next year to get the wheels of refinancing going, or should i get going now before it's too ...