Lower mortgage rates are likely in our future. Read on to see what you need to do -- whether you're a homeowner or aspire to be.

So we finally got a rate cut — and a supersized one at that. After the move was announced Wednesday, Federal Reserve Chair Jerome Powell said officials made that decision to keep the US economy in its current “good shape.” Will that pan out? Only time will tell, of course, but recent history doesn’t make it look like it’s a sure shot by any means.

A handful of Federal Reserve officials on Monday left open the door to additional large interest-rate cuts, noting that current rates still weigh heavily on the US economy.