You would be wise to contact a low closing cost lender when comparing rates to find out how much else you can save in closing costs. Best of all, find out which lender has the lowest costs and the lowest rates - that is the lender that will offer the most savings - and they do exist. This may be the easiest money you will ever make with just a few phone calls. In Allen County Indiana and surrounding IN counties, call me for a quote at 260-442-6877. NMLS#1181098
The chart shows a 38% from the October and November recent highs as well as a break of the uptrend line from the July 2016 lows. While it is possible that the rates may go even lower, it may not happen for a while if at all. So, the safe move IMO is to refinance now to lock in the lower cost of money, then keep an eye on it so that you can do it again if it happens to go lower. Low closing costs make this strategy a no-brainer.