If you haven't already refinanced and you got your mortgage a couple of years ago, you probably should consider calling your lender.
According to this story in the Seattle Times, some bankers are reporting refinancing activity up 50%. Bottom line: if you're not already paying in the 5's or if your loan is really big, you may want to give your lender a call and see what they can do for you. It may be the easiest way to save a couple hundred bucks a month or increase your equity for the same monthly payment.
p.s. If I were a betting person, I might wait till next week since I suspect our man Ben Bernanke (below) will cut rates again this week.