Wow how great is that!  This time I think the 4.5% (or better) is going to be around for awhile.  On the ABC news last night they were quoting the rate at 4.93% (national average) but in the Portland area, I received emails from several lenders stating the lower interest rate.

It might be worth looking into refinancing.  The turn around time on refi’s is long but the money you save could be worth it.  I would only suggest refinancing if you plan to stay in your house a minimum of three years.  It usually takes a couple of years for the cost of refinancing to be recovered by the lower payments.  This does vary based on your current interest rate.