I was all set to write up an article telling you to stick to your plan and to give you an update on my current deal, when the news broke:

The Federal Reserve, looking down the barrel of a 5% sell-off in the market, and increased fears of recession decided to drop the hammer. The Fed said it was cutting the federal funds rate to 3.5 percent, down by three-fourths of a percentage point from 4.25 percent.

A lot of people drowning in mortgage debt should get a lot happier. It could be time to refinance.