How low should I wait for mortgage rates to go before refi?

I live near Seattle, WA. I have a single family house rental property currently at 6.875% with a major national lender. I notice from their rate notification emails that their rate for a 30-year fixed has gone down to 4.625. I realize that a rental property would probably warrant a higher rate than an owner occupied home. But should I refi now or wait and see if rates drop more?How low should I wait for mortgage rates to go before refi?
Rates are at the level they were in the 1940's.





Plus lenders are actually wanting rates to increase. You lower rates to increase loans. But with the boom in refinancing, lenders have to much more. They are actually charging more then they should, but demand is great.





Plus the fed is not working to lower rates, just to maintain the current level.





Rates are also tried to inflation, which is increasing due to the US spending.How low should I wait for mortgage rates to go before refi?
I own several rental properties and have been told by several mortgage companies that even though I have very good credit scores and the cash flow on my rentals is very positive- they are not interested in making any loans on rental properties right now. I have a bunch that have 7% loans and I guess I am not going to get any better.





Best of luck to you.
When the rate for your rental hits 5% and the ';fees'; are under 1% of the loan amount..