Our builder offered us an incentive if we went with their mortgage company. Only problem, of course, is that their mortgage rates are high. Not insane, but maybe 0.6-0.7% higher than what we could find online. We crunched the numbers, and we could be paying a slightly lower monthly payment (not enough to make a difference in a monthly budget) but unless we were going to stay in the house almost the full length of the loan (which is highly unlikely) it would be smarter to stick with the builder's mortgage company. This makes me a bit annoyed, though, because we're clearly getting a poor rate, but this incentive is too good to pass up.
When we were shopping builders, another sales agent at another builder told us that we should just accept the incentive, and then refinance as soon as possible. Not an entirely bad idea, except that's another set of closing costs to pay, right when we're paying for appliances, window coverings, paint, etc. Plus, I'm afraid that the interest rate is going to keep going up.
Hmmph. We worked out the financials last night and we're still in good shape, but I'm now looking enviously at all those 5% interest rates that people have.