Fed Cuts Interest Rates

The government, nervous about recession, has cut the key rate by 3/4 of a point from 4.25 to 3.5. Stock markets around the world have been hit hard by recent news about the world's largest market.
"Analysts said the fact that the Fed did not wait until its meeting next week to cut rates underscored the seriousness of the situation."
Though the stock market is jittery and the situation is serious, savvy home buyers may see the move as good news with regards to their large purchase committment. There may be great opportunities for future real estate purchases.