Home mortgage interest rates recently dropped, it is possible, for the time being, to get a 15 year 4.25% rate...Does it get any lower than that?  30 year money is just below 5%.

If you are in the 6% range and have good credit and have equity in your home...now may be the time to consider a refinance.    There are factors to consider, however, such as how long will you still be in your home?  What are the closing costs, forgetting escrows,  and how long will it take to breakeven on the refinance costs?

 Last year at about this time, when 30 year mortgage paper was 4.75%,  many homeowners would have liked to refinance but many were unable...due to no equity in the home or bad credit.

Remember, set up an emergency fund, have margin (margin:  spend less than you bring home, (Hey, is Congress listening?)) in your financial life, then begin to prepare that mortgage.