Tumbling mortgage rates will be a two-pronged boost to the struggling US economy. If the Fed continues to push long-term rates lower by buying mortgage-backed securities, this will help lower mortgage rates for solvent borrowers, putting cash into the economy and perhaps paying down revolving debt like credit cards. That helps the banking sector as credit card defaults will likely decline. They will also collect obscene fees on new mortgage originations. Finally, a government bailout that the bill-paying, rule-following public can participate in, at least indirectly.