[IllumiNaughtyByNature]

to about 5.5%, for borrowers with good credit scores and substantial equity in their homes

Which means everyone running to refi is going to get about 6.5% + PMI

[WilliamReading]

I just checked with Countrywide and they are now quoting rates at 5.375 for 30 year loans, 5.125 for 15 years.

Need 20 percent equity and 720 credit score.