As widely expected the fed lowered the rate .5% with banks following suit. Hopfully this means fewer families facing foreclosure from skyrocketing payments can take their houses off the market and ease the inventory glut. Since they went with the bigger cut it should send the signal that now is the time to get off the fence, it probably won't go lower. Of course that depends on the reaction to the general economy. I'm troubled by the $80+ a barrel for oil. Outside of greed and a lackluster stock market there isn't any reason why it can't be at the $60. point. That will fuel inflation and prompt a rate hike by the fed and we'll be back in the same mess again.