Well the stock market ended up making a big rebound today with the dollar making some major gains finally!!  What was the reason behind this shift??  Well the S&P came out and said that there is an end in sight for the write downs by lenders due to the sub-prime mortgage fall out.  This is GREAT news for everyone.  Hopefully soon we can see home prices start to level off (good news for home owners), and everyone can have a more solid idea of value in places that were overpriced (good news for buyers).  Also, borrowers may eventually see a return of the higher loan to value programs (like MyCommunity etc.).  All in all, it gave everyone a reason to hope with a slight lowering of rates by the end of the day.  All of these Fed cuts have not translated into savings for borrowers due to the higher risk ratings that mortgage backed securities have been getting.  Hopefully they can be upgraded again to allow lower rates to prevail.  Either way, this statement is welcome news for the mortgage industry and the economy at large which has had to endure a huge hit due to the mortgage crisis.  So, as we go forward, I have no crystal ball but I sure do feel more optimistic!!