How will Fed rate cut impact lending?

Months of tense anticipation and speculation culminated in the Federal Reserve announcing its decision to cut the federal funds rate by a half percent on Sept. 18. Fed Gov. Michelle Bowman cast the loan dissenting ballot among the 12 voting members, becoming the first to do so on an interest rate decision since 2005. Dodd Frank Update spoke with several economists about what the cut means for mortgage rates and the housing market.