The investors in the secondary market have a very good grip on the prepayment risk associated with a drop in mortgage rates and use pricing or yield to offset this, which is why you so often hear of borrowers paying points and lender fees.

Quote from @Jack Schwartz: Quote from @Kristine Ann: I think it's great that this post is basically pinned to the top of the tax lien and foreclosure forum. 

Less than 48 hours for mouse droppings to dry.

Just drop me a line or call me.

I've heard from others that the market drops off substantially in October and November. 

Quote from @Henry Clark: Dropped off at about page 5 a few days ago.  

The pricing is very competitive and I feel like if I drop it any more, it just won't make sense. 

Sometimes they are dropped.

And I understand that i am college kid with no money or experience but then you see people like Rob Beardsley who dropped out at 20 and bought a 200 unit property through syndication and then you think, hm, maybe its possible. 

Many lenders include a prepayment penalty  that lasts 3-5 years, which could limit your ability to refinance again if rates drop in the future.