Real Estate and Home Mortgages - 4.5 Refi

Just an interesting story. I was laying tile in my mortgage broker's house the other day, and normally enter and exit from the upstairs doors. But I had to go to town, and thought as a courtesy I would ask her if she needed anything, so I went downstairs to her office to ask. As I approached her desk, she shouted, "sit down", so being the housebroken person I am, I did. When she got off the phone, she said "rates just fell to 4.5% so I locked both yours and mine". I said "OK", not knowing what it all meant. Within 10 minutes rates went back up to 4.75% and stopped completely until the next day.
It finally soaked in. I just refinanced my main residence from a 6.5% to 4.5%. Cost me about $3k, saved $500 a month, so the make up is in the first 6 months.
I feel really blessed to have been in the right place at the right time for a change.:D

That is GREAT!

We hope to refi in Jan after my husbands new position and higher pay take effect. (Same company)

We are sitting at 7.5% from a yr and a half ago.

This summer we tried and were only offered around 6.5%. So we said scratch that.

We both have good paying jobs that aren't going anywhere soon. And we both have good credit (over 700).

I hope we can get in at 5% or below. Will save us $265 a month on a 30yr or we will go with a 15 or 20 yr (most likely a 20yr).

Last thing, my co-worker refi'd at 4.8% a week before the feds dropped the rates (usually doesn't have any immediate effect on mortgage rates so I am told).

Congrats again! I hope to hear/read more stories like this.