Rates Go DOWN

The Federal Reserve cut two key interest rates by a quarter-percentage point Tuesday to the lowest level in nearly two years .In a 9-1 vote, Fed Chairman Ben Bernanke and his colleagues cut their target for the federal funds rate, their main economic tool that influences borrowing costs across the economy, to 4.25%. It was the third cut from the Fed in less than three months and brought the rate to the lowest level since January 2006.

Comments

[Utah Realtor]

So will that feed over to help mortgage interest rates go down more, or have they already done their damage?