Refinance Calculator - Does it make sense

If you have heard that the Federal Reserve is looking at a program to reduce rates down to 4.50% you may want to read Just read this http://online.wsj.com/article/SB122833771718976731.html .  There is a proposal that is being discussed to revitalize the Housing Market with 30 Year Fixed Rates at 4.5%.    Please read the article because the 4.50% (or whatever the rate ends up being if the proposal passes) would only be available to Buyers not to individual looking to refinance. 

Brandon, thank you for your support with staying local.  We hear alot about buying AMERICAN, I do believe that Homeowners refinancing should deal local for two reasons:

First they will like receive a rate equal to or better than they would from an Internet lender and they would also support their local economy.  By example, an Internet lender might be located in New York, California or even as close as Pennsylvania.   Refinancing from an Ohio Lender would create income for an Ohio Employee who would then in turn spend that income in OHIO, not out of state where the local economy would receive benefits.    Just my Opinion. 

Paul,   I did play with the idea.   Not extremely difficult to do, however difficult to keep up to date so not worth the time effort or energy.   you would be best to present examples and hope people would complete a reply form.