Mortgage Finance Experts: How will the market affect homeowners who will be refinancing next year?

My parents bought their home 4 years ago at a 4% rate, which is due to change next year when their loan rate. With the market crunch and the new strict lending that’s bound to occur as a result of this, they are worried about what refinancing has in store for them. The good news is that they have flawless credit (they successfully removed their PMI, and they are early every month on their mortgage payments —and they pay an extra couple of hundred dollars than they should. Not to mention their credit card debt is very low (only a couple of thousand dollars). They’ve both been at their great paying jobs for over a decade; but they are still worried about whether they will be able to secure a decent fixed rate when their mandatory refinance is up. Any hope?

Is it better to refinance a mortgage for a tax deduction or continue with my 15 year mortgage?

I have 10 1/2 years left on a 15. Single, retired and no dependents.Pension(60,000) Does it make sense to refinance?