The Fed's interest rate cut yesterday is good news for the housing market. Not only will it allow homeowners greater ability to use their home's equity to help pay for healthcare costs, education home remodeling projects, etc., but it will also help to soften the blow for those that have adjustable rate mortgages that are reseting this fall.  Interest rates on conventional loans are still at historic lows and with prices coming down and so many homes to choose from, it's a great time to buy.