When to refinance?

[Sam Chan]

Hi

We purchased an CA investment property when rate are at 8.25%. I wonder when I should refinance. Some options are:

-No point - rates at 7.75%

-Can buy down to 6.99 but cost 1.5%

-Wait till next year or later when rate goes down.

I also have to bring the LTV to 75%. Currently, it is at about 77% LTV, based on the appraisal.

TIA