[aigel]

Great if you need to refi an existing mortgage!

Not so sure about rushing out to get a second home on the beach. Once the interest rates go up again, the home prices will adjust down accordingly. These rates are the only reason the housing market hasn't tanked completely.

It is all in the monthly payment in the US. I'd rather have a smaller principal (less debt) with a higher interest rate than the other way around. Principal is also very important when it is time to sell ...

Cheers,

George