The Fed cut rates again today and has indicated that this will most probably be the last rate cut for awhile.

The good news is…people with existing equity lines of credit are likely to see their interest rates drop and home owners with adjustable rate mortgages due to reset in the next few months will probably not see a significant increase vs. what they are paying now.

See Kathleen Penders article from the SF Chronicle
As ARMs reset, little of the expected chaos is coming to fruition.

See today’s Wall Street Journal article
Fed Cuts Rates – Signals Pause