A lot of people in real estate keep calling for the Fed to lower rates to revive the real estate market. But the last time the Fed cut rates, the 10 year yield rallied from 3.6% to 4.8% and so mortgage rates went higher. The long end only goes down during rate cuts if the economy is struggling. The long end goes up during rate cuts if the rate cuts are proactive and early. But according to the same people, the economy is strong. You can't have it both ways.