Very few get the published rate for refis. In most cases even w/lower rates most will end up at a higher rate relative to where rates where when they started. Banks are playing all sorts of games.
Newly I am a believer that extrordinary low interest rates are a hinderance to economic recovery. I simply think the money that comes out of the system outweighs any thing they expect to gain.
I agree on the lower rates reduce monthly payments and that will help some. But people don't buy a house for what it is worth, they buy according to what they can afford monthly in most cases. When interet rates rise, home prices will start dropping again.
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