While it’s tempting to refinance right now given the fall in mortgage rates in recent months, it may make sense to wait: According to The Times, the government may raise the conforming loan limit in New York to $729,750 from $625,500 as part of the stimulus package. That could mean paying 5.25% for a 30-year-fixed rate instead of 6%. Of course, inaction may work against you too: rates could rise while you wait.