Rates lowered again and no one cares. . .

and why should we?  Federal rate cuts aren't doing squat toward lowering mortgage rates so the news of the latest rate cut means naught to myself or my industry.   

This feels to me to be the most far reaching recession we've ever had, at least in my lifetime.  Not only have credit resources dried up or been taken away but groceries and gasoline are at all time highs.

http://www.federalreserve.gov/newsevents/press/monetary/20080430a.htm

In better news, California, one of the most depressed states in our country housing wise, has seen a recent uptick in investor foreclosure activity. 

Interesting times indeed. . .