One problem with all this is that other types of loans out there will see a jump in interest rates. The lenders will recoup their losses somewhere else
Good time to clear all credit card debt...and maybe think about repairing that old car instead of buying another (unless you pay cash for it).
Of course, there are a variety of ramen noodles out there...
I think that's reasonable. And the other problem is mortgage rates aren't going down much because of large risk spreads, which means that lower Fed rates and lower bond rates aren't having their usual effect.