What mortgage rates are people paying?
Now that the Feds cut the rates by 3/4%, the rates should go down. The cheapest rate I found was on Eloan.com for 5.324% for a 30 year fixed term.

Chase j ust told us that they can give us somethibng very close to 5...I'll have to get back to you on the exact figure.

Looks like if we refinance, for $50 more per month, we can shave ten years of our mortgage !!!!!

Mortgage rates don't usually follow the Fed, they usually follow the bond market rates. If the bond market goes down, because of the recent Fed rate, then the mortgage rates would start dropping.

that rate looks pretty good. The question is when will it go lower.