We're Getting a New Mortgage for Christmas!
Normally that wouldn't be exciting news, but it is now. A mortgage broker we've used a couple of times called last night to offer us 4.5%. We have two small mortgages (well, small in DC-area terms) at 5.5 and ~6%, and we've never consolidated them because we didn't want to lose the lower rate.
Now that there has been this temporary plunge, we're jumping on it. He verified some of our information on the phone, and will be sending an appraiser in the next couple of days. He estimates that our mortgage payment will be about $1100 less per month (I think likely more), and we'll have the flexibility to pay extra on principal as lightly or heavily as we wish.
Our FICO score is over 800, we have secure jobs (as much as one can say that, these days), and have no debt at all other than the mortgage. We were living the "Dave Ramsey lifestyle" before we had ever heard of Dave Ramsey.
Sign of the times: he said that about 85% of the people who call him for new mortgage terms, he can't help, because they have negative equity.