Federal reserve cuts interest rate

As predicted the Federal Reserve cut interest rates today.  In trying to boost the economy and control the housing slump, the key interest rate was cut a half point.  As Realtors, it is our job now to educate our clients who have purchased homes recently.  These clients need to be informed about the opportunity to refiance and possibly save thousands of dollars in interest.  The key interest rate is now 4.75%.  Good luck.