We are in the process of refinancing, there are so many things to consider, such as front load fees, back load fees, discount points etc. So we are not only talking about interest rate, we have to consider all the related fees. But since the Fed has cut the rates recently and will meet again on Dec 11, 2007, I am sure to meet with your mortgages broker is a good idea, just to regroup to see what options you have as far as for refinancing. But also during this holiday season, lots of lay offs are happening, so we need to be careful, may be to get mortgage payment protection is a good choice, you could find lots of different options from this web site, they will help you when you lost your job for a period of time. In that case you do not need to foreclose your house, I do not understand why there are so many people go that route, there are so many other options before that, we need to plan our life better. remortgages has become a popular way for many consumers in the UK to enjoy the benefits of getting rid of a poor value mortgage and switching to mortgage that offers better value for money and huge savings over the term of the loan. When interest rates start to rise remortgaging becomes even popular, with many consumers looking for different ways to try and cut back on repayments and to save money on the interest that they have to pay on their mortgage loan. Since our interest rate is getting lower, we do not need to worry about it now.