Dec. 5, 2000-- Federal Reserve Chairman Alan Greenspan fired up the nation's securities markets today with comments that led many to expect an interest rate cut.

Greenspan's comments came at a banking conference where he indicated that he is ready to cut interest rates if the economy continues to slow.

What does this mean for you? Lisa Conley explains.

Lower interest rates could mean a window of opportunity for consumers.

Keep in mind, the Fed has raised interest rates six times in the last 18 months to slow down a booming economy. It worked. Now they need to give it a boost again.

Lower rates will entice consumers to buy more and borrow more. Good news for a lot of people, especially homebuyers.

The Nasdaq's highest one-day percentage and point gains ever. The third largest one day point gain for the Dow.

When Federal Reserve Chairman Alan Greenspan talks, the financial world listens. At a banking conference today, Greenspan hinted that we may see lower interest rates soon.

Dan Sundahl/Republic Mortgage: "CLEARLY, CLEARLY IT'S BECAUSE WE SEE THAT THE NAMING OF A PRESIDENT ELECT IS IMINENT, AND ALSO BECAUSE CHAIRMAN GREEENSPAN RECOGNIZES WE'RE SLOWING DOWN THE ECONOMY A LITTLE BIT AND HE WANTS TO KEEP IT GOING."

Salt Lake City mortgage broker Dan Sundahl says this is a real opportunity for homebuyers or homeowners who are looking to refinance.

Dan Sundahl/Republic Mortgage: "IT WOULD APPEAR THAT WE'RE GOING TO SEE A HALF POINT DROP. IF WE GET MORE THAN THAT IT WOULD BE VERY HELPFUL."

Right now, 30 year fixed mortgage rates in Utah are in the mid-seven percent range, which is the point where brokers say the market starts to accelerate.

"WHEN WE GET DOWN INTO THE 7 RANGE OR BELOW THEN IT BEHOOVES PEOPLE IF THEY THINK CAREFULLY TO GO AHEAD AND REFINANCE AT THAT TIME."

Mortgage brokers say if the Fed does lower rates, we could see fixed rate mortgages under 7-percent, something that will surely fire up a slow housing market this winter.