Why the big fuss on interest rates does not help for refinance?

I understand, but don’t see the point about the federal reserve lowering interest rates and making a big deal over it, when the 30 or 15 year interest rate on mortgages are still not going down. Mine is at 6.25 for 30 years but would like to have a 4.75 for 15 years. The cost [...] http://bit.ly/iLtK5k