We just completed a purchase. We chose a particular lender because other lenders have constraints in terms of employment contract length. They were not giving full clarity on whether our loan would be approved or not prior to submitting application. Since the property was purchased in auction we had limited time to complete settlement. So we went ahead with a lender with maximum certainty of approval. Even though the interest we are paying with current lender is very high (4.8%). Now that we completed settlement, we have time to shop around and look for better interest rates. My question is: If we find a lender that is offering around 4% (2 years fixed), should we switch immediately? It would save us more than $1k per month on $1.8m loan. Would it affect our loan history in a negative way? For example future lenders( for future purchase or refinance) may think this guy is switching lender too frequently and may see my application less in their favour.