This is what I like to see from a company - the Fed lowered rates an hour ago, and I just got this e-mail from E*Trade:

We wanted to be the first to let you know that the Fed just cut the Fed Funds rate by ¼%.

In fact the Fed Funds Rate is now at a new 40-year low. While the cut in the Fed Funds Rate does not directly impact mortgage rates, mortgage rates continue to remain at 40-year lows also. Michael, nothing lasts forever, and these 40-year low mortgage rates will inevitably rise again. Which means you have a once in a lifetime opportunity, and probably last chance, to refinance or get a new mortgage loan before rates rise.