With mortgage interest rates still around 6.6%, the housing market remains sluggish.
The Federal Reserve recently cut interest rates for the third time within a year, but home buyers won't see a trickle-down effect on mortgage interest rates.
The Federal Reserve cut its benchmark interest rate a quarter of a percentage point on Wednesday.
Shifts in Fed policy affect what people pay for credit cards, auto loans, mortgages, and other financial products.
Central Valley homebuyers have noticed the easing market conditions. Mortgage interest rates are the lowest we have seen in a year.
