An Article published in the Washington Post does a good job of explaining what the Federal Reserve did on November 3. Here is the link. I am not endorsing the Fed's actions, however, it does look like it has had an effect on Mortgage rates in today's market. We will have to wait and see over time how rates fare!

Here is the link:

http://www.washingtonpost.com/wp-dyn/content/article/2010/11/03/AR2010110307372.html

http://sntk.in/0d783507