Yes, it's best to buy when rates are very high, then refinance when they fall. Our last refinance was at 2 5/8%. One big issue with Prop 13 is that people that

Yes, it's best to buy when rates are very high, then refinance when they fall. Our last refinance was at 2 5/8%. One big issue with Prop 13 is that people that would normally sell and move to a smaller place, or to another location, don't, because of the property tax consequences. Prop 90 partially addressed this, but most counties opted out because they did not want an influx of new residents paying artificially low property taxes.