What the fed rate cut means for homebuyers (WISH) — If you own a home, or already have a mortgage but would like a lower rate, the coming days and weeks could be interesting. The Federal Reserve has, as WISHTV.com has reported, decided to cut its benchmark interest rate, likely leading to changes across all forms of borrowing and lending. On Monday, Molly Grace, a mortgage reporter with Business Insider, joins “Daybreak” to look at what may be in-store for you and your home. Lender: It’s time to act after Fed drops interest rates