Low Mortgage rates for whom?

There was news a few days ago that 30 year Mortgages rates are the lowest in history now and now is the time to buy house with low Mortgage rates or refinance them. But in the other news there was this article which was stating that the lenders are so overwhelmed with foreclosure, short sales and mortgage applications that refinancing is taking more than 60 days for even them consider. So I don’t really understand, the advertisement of these kinds of rates is for whom? The requirements for mortgages have become so stringent and more and more people are so much underwater that very few if any would qualify for such low rates. Even if the rates go down below 3 percent, would it make a difference when somebody wants to buy a house, he would have to pay at least 20 percent down and then have that magic credit score about 760 and then all the other requirements that people would abandon the process early. Mortgage rates are like shopping for a cheaper price on the internet. You have to shop around with your own particular financial circumstances in order to get the best rates. It is no use relying on the rates published almost every day since it is the average of many lenders and may or may not apply to you. So taking these rates to a mortgage company and then trying to negotiate from that point is useless since you are only one client and as I said before the rates are based on averages. So the low rates may entice you to refinance or apply for a mortgage but you won't be able to score the lowest average rate.