These are today's mortgage and refinance rates. Mortgage rates remain low after the Fed announced it will cut the federal funds rate by half a point.

And that news came after mortgage rates plunged on Wednesday to 6.15%, the lowest point they've been at in two years, or since September 2022. But as this week's rate cut reverberates across the market and as lenders start processing this new reality (additional Fed cuts look possible for November and December),

The Fed cut its short term interest rate by 0.50%. How will this affect mortgage rates, auto loans, and credit cards? Does the cut indicate a problem with the economy?