4.5% mortgages would get the economy humming of they were available for everyone which I believe they will be. Take your 150K HH with 500K of mortgage debt at 6.5%, lower that to 4.5% and those Gen Xers will have $10K of discretionary consumption minded income to spend on Plasmas, Escalades and iPods. Put those mortgages in the hands of the right borrowers and there will be buyers for them.
