The Fed funds rate doesn't help lenders. It's not a matter of rates its a matter of demand for mortgage backed securities. If no one buys their bonds, they become insolvent.
Rates are still historically low. No, this rate cut wasn't to help the home buyers or lenders. It was to help the Jim Cramer's of the world not lose so much in the big board correction that is needed IMO.
"Experience: that most brutal of teachers. But you learn, my God do you learn." C.S. Lewis
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