According to some analysts, mortgage interest rates are at the lowest in more than a half-century.
That's why lenders continue refinancing home loans at a torrid pace.
People refinance to lower house payments, to consolidate debts, to get a shorter term loan or to get cash for investments, college or home improvements.
Whatever the reason, homeowners are saving money.
Folks like Warren and Shelley Grass are rushing to cash in by refinancing home loans. Warren is also refinancing now because he doesn't think interest rates will drop much lower than they are now.
Warren Grass says, "I personally don't see the interest rate going much lower than five percent."
Capitol Federal Saving's branch manager Maryann Hurst says customers want to know how low rates will go.
Hurst says, "They're all asking me what's the lowest rate? Should we lock in today?"
Hurst says no one really knows. But it's a fact rates are as low as they've been in decades.
Hurst says, "If you are getting a 1% difference in your rate you are taking advantage of that lower rate and it is quite a bit of financial savings over the life of the loan."
Lower rates give homeowners more options, so be ready to ask questions to find what's best for you when you talk to your lender.
At today's rates, folks like Warren and Shelley Grass can spend less on a home loan, and use the money someplace else.
Hurst says some homeowners haven't paid attention to the lower rates and are paying more than they have to on their home loans.