While rate may drop they won't drop as far as the lowest rates that drove prices up so far.3) rent to price ratios have been going up, I believe beyond what makes sense for most people.

There is no point in buying a rate down in this environment, take no prepay or short prepay option, then refinance when rates drop, no need to spend the capital when it is clear we are headed down in the nearing future.

The little price drop worked great.

Should we just hold out until rates drop and do a conventional refinance instead?

During the GFC values in certain markets values CERTAINLY dropped more than 30 % I had over 450 loans out at the time All our own money ..

Those that have done this please feel free to drop some knowledge!

There are some special assessments coming up, and I've heard that some of the neighbors have been dropped by their home insurance providers and are struggling to find affordable home insurance in SD. 

If you think rates might drop a lot in the next couple years you might have an opportunity to refinance into a lower rate before this move would pay off on this first loan. 

And guess what, I have 0 guilt, not a drop. 

We are located in the Quad Cities (Bettendorf, Ia).Situation:- tenant late on December rent; had her physically drop off rent plus late fee on 12/10.- 12/13 the check of course bounces due to her putting a stop payment on the check- 12/13 I was notified that she turned off utilities on 12/12- 12/14 I provided her email stating I would be checking on the property on 12/15 (24 HR notice)- signed lease through August 2018- I have $1650 ($1350 rent and 300 pet deposit) in security deposits- upon checking on property I found that there are no items of value in my property and she had left all keys and garage door openers that I had originally provided her.