Some Sacramento residents on the housing hunt have hope after the Federal Reserve cut its benchmark interest rate for the first time in nine months.

With the Federal Reserve cutting interest rates by a quarter of a percent, it could also lead to lower mortgage rates.

Michael and Sandra Omogun are on a housing hunt.

"I'm looking for just a nice home for a big family," Sandra said. "And a big back yard."

"We've been looking for like two years now and all the home prices are just so high that we can't afford it," Michael said.

The Sacramento couple says so far, they have not found the right price.

"It's crazy," Michael said.

Now, a Federal Reserve interest rate cut could help reduce monthly mortgage payments.

"The rate is a very big thing, so for the rate to drop down just a littl

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