We have got a fixed rate loan in August last year, while the interest rate was the highest, but we did not want to try the floating rate as we are afraid of the interest rate going up, plus we are the kind of people very conservative and we like to know our monthly payment all the time. When we noticed the rate was going down after we Secured Loans, we started to ask our loan officer to lock a new rate for us, She first got a rate of 5.875% then she got a 5.25%, but I told her to wait until after Jan, instead she told us to close as she would never know if the rate would go up or keep on going down. So we lost our opportunity to get the best rate at 4.875%, that rate just showed up in a couple of days and now the rate went back to 5.25%. So if I do refinance next time I would like to follow my instinct and try to get the lowest rate. But we had our loan rate lowered from 6.25% to 5.25%, I think that is a good deal already! But I will continue watch on good rates and hope we will get the low rates again in the future.