If you are looking for today's mortgage interest rates, I just saw one with APR of 4.78% with no points and less than $900 in fees.

Should you refinance now? Only you can answer that, but here's some things you need to consider.

The average rate for a 30 year fixed, last week was 5.10, up a little from the week before. Freddy Mac also was up a little bit last week after a steady decline for about 4 weeks. Does this mean the rates have started up? Not necessarily, but that might not be far away.

The average rates for 15 year fixed and ARMs were actually down a bit, although Freddy Mac rates for 15 year fixed were up.

By the way, I just read about one of the local banks that has made some $800 million worth of home loans during the past 90 days, so apparently there are a number of folks who believe that today's mortgage interest rates are good enough.

One of my kids has been wanting to refinance and my advice to him was "Don't wait, shop around and get the best rate and terms you can and close the deal."

Just like the stock market, it's almost impossible to predict the exact bottom so just try and find a spot that will improve your current situation and go for it.

If you do decide to refinance, do your homework first.

Remember that home values are down so try to get an idea of the current value of yours and your current interest rate.

Get a free copy of your credit report and check for errors. Some credit card issuers will give you a free "up to the minute" credit score when you log in to your account online.(credit scores aren't included with free credit report)

If you have a Fanny Mae or Freddy Mac loan and don't have enough equity, you may qualify for the federal loan modification program.

If everything looks ok, then go get multiple rate quotes. You can do this online.

One last thing, rates fluctuate daily, so today's mortgage interest rates are only good today, so don't wait for a week before locking your rate in, when you decide which one is best for you, go for it.