[quote=an]Or, what about people who were at 4-5% and refi to lock in at <3%? Take all the $ they save and buy a 5years CD today?[/quote]

This was the biggie for our household. For us, it's not about leveraging equity for the greatest financial gain, but rather reducing our monthly overhead as near to zero as we can manage without taking any real financial risks. I know there are faster, more effective ways to get there, but I've never liked this culture of debt the royal we seems so attached to. I think that part of our culture is why our economy seems to go sideways with the slightest imbalance, so I avoid it as much as I can manage.