There seems to be many issues to the discussion
Refinancing - has costs and will reamortize your loan.
Which is what got me the first time. I didnt realize that while my loan went down so did the amount I was paying toward principle. I also didnt know that I could of asked for a a loan of the same duration
It may or may not be into a variable rate. I would think that people refinancing today may be to get out of the variable rate loans.
They are still pushing the option loans. Which should be illegal
and hopefully they will go after some of the people that misrepresent these.