Seems as though most people still cling to the notion that when the Fed lowers the Fed Rate, long-term mortgage interest rates go down as well.
Here's a handy site where you can auto-generate your own meaningless, fake Fed rate announcement:
http://www.kedrosky.com/cgi/spew2.cgi
Here's an excerpt from the announcement I just got:
The Committee is somewhat convinced that a restrictive stance of monetary policy, coupled with irritating underlying growth in the price of Nebraska real estate, is providing ticklish support to economic activity. However, the increase of Web 2.0 conferences has lowered, generally speaking, ethanol prices, reduced Robert Shiller's book sales, and reduced debt markets. These developments, along with the neutral stance of monetary policy and ongoing vertiginous increase in high-beta stocks, should foster increased economic stability over time.
Have fun!
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