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Well, the Fed has finally done something that should make all homeowners and prospective homeowners happy...they lowered their target for the Federal funds rate to 0%-25% While that does not DIRECTLY impact mortgage interest rates (and it would take pages of economic and fiscal speak to explain why) yesterdays' move HAS had a positive impact. Two weeks ago I was able to offer clients rates in the mid 5% range. This morning I logged into my favorite wholesale lender to see 4.5% with NO ORIGINATION FEE!!!! That's unprecedented.