Yeah. The other thought that I have is.... there are some people who buy a home for a short term, because they intend to move. For job reasons.... because they are first time home buyers.... for what ever reason.  So, they are not concerned what the interest rate is 20 years down the road, because they don't plan to own the home that long. Maybe they intend to live in that home for 2-3 or up to 5 years, the sell the home and buy a different one. For those individuals, having a mortgage with lower interest rate early in the mortgage makes sense.