This rule is somewhat obsolete
due to the variety of closing cost options that exist today. With the
proliferation of no
cost and zero point mortgages, a potential refinancier can recoup the costs
of refinancing very rapidly if not
immediately. The 2% rule may be a helpful tool when paying both
points and closing
costs in order to refinance.
Fannie Mae & Jumbo Mortgage Rates Just One Click!= Current Rate Chart