[Refinancing] At what percentage drop would you consider a refinance?

Current: 1.85% variable

Offer from 1st bank that approved: 1.2% variable

I’m also waiting for au bank but I’m sure it’ll be 1.3+

Wondering if it’s worth it or worth waiting for other banks. I don’t think I fit the profile of a “perfect” borrower so I’m disqualified from the sub 0.7 rates advertised on Kakaku. I might need to job change soon.