Buy or REFI now.

"The Fed said it will buy up to $300 billion in longer-term Treasurys and buy hundreds of billions of dollars more in mortgage-backed securities in an effort to aid the ailing economy. Coming into Wednesday many analysts argued that the Fed was unlikely to take such a bold step. The move thus shocked markets, causing an immediate rally in stocks and pushing bonds up dramatically within minutes of the announcement of the Fed's move."
"By buying Treasurys, the central bank is increasing the amount of money in the system in a similar fashion to reducing interest rates. The move could lead to lower mortgage rates and more favorable spreads for banks."
-WSJ

This could be the opportunity you have been waiting for because it looks like interest rates will be coming down even more very soon. You could see the conforming loan interest rate fall to 4% - 4.25% range from its current 4.75% - 5% range now. If you are thinking about buying or Refinancing your home, now is the time. Just my humble opinion.