According to bankrate…http://www.bankrate.com/brm/default.asp
most mortgage rates are higher today than last week.. and I tend to agree with HLS that the fed funds rate will mainly impact HELOCs, arms, and credit card debt… I doubt it this rate cut will have much help for the RE industry and the builders, even though their shares are up..

BTW, for those who said a rate cut would HELP the USD.. I guess you were wrong. The us dollar index at 79.17 is the lowest I’ve ever seen it.

I suppose that if you are gonna use an arm loan, and you don’t need food, you don’t buy any goods, and you don’t drive, then the rate cut may have helped you buy a bit more house than before.