The Federal Reserve cut short-term interest rates by 0.25 percent to 4.50 percent today (October 31, 2007). Wall Street expected the cut. The Fed sighted weakness in the housing market as one reason to lower interest rates.
If you have a question for me about any aspect of the home-buying process (i.e., house hunting, mortgages, negotiations, buyer agency, purchase and sale, etc.), please don't hesitate to send me an email. I'm happy to try to answer your question.