Well this is the time to start making your decision. Today Greenspan didn't lower the short-term interest rate. After 11 drops this year, I think that we've hit the low point, probably the lowest we will see in our lifetime anyway on credit cards and mortgage loans.

If you've been one to hold off for the lowest refinance rate you already missed it. I obtained my home loan at 7.5% back in 1998. This year I had the chance to refinance my loan at 6.5% however I felt that I could get 6%. Well I didn't get it, and before I knew it refinance rates were back to 7%. That's what I get for being greedy :)