FED CUTS PRIME RATE BY .5% It is a very Big Deal for those that have a home equity loan that has been squeezing them the past year or so. However, a mortgage rate it will not affect. We can hope that the mortgage rates will go down.  For now, check the following for lower interest rates:   ·        Home equity loans·        Credit cards·        Variable rates on auto loans·        Variable rates on student loansWill mortgage rates really do down and stay down for a good while?  We can only hope.  –      Dale Siegel