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I'm planning to buy all cash, but I've seen 3.25% as recently as last week for 30 year conventional with 20% down.

You won't see 0%. Fed isn't going to pay banks to borrow money. I really do believe this is rock bottom rates considering how cheap money is, and they'll stay this low for a year or so. Fed promised to keep it there till 2014. After that it's probably going to go up.

Goran_K says

I'm planning to buy all cash, but I've seen 3.25% as recently as last week for 30 year conventional with 20% down.

Same here. In reasonable parts of the country, I can swing it. In Cali - not so much.

Fed easing hasn't led to lower mortgage rates, with the 30-year fixed rate rising since the first rate cut.

Mortgage rates are closely linked to the 10-year US Treasury yield, which has also risen over the period.

Friday's blockbuster jobs report reinforced these moves and extended increases.

The Federal Reserve's jumbo interest-rate cut in mid-September was welcome news to prospective homebuyers, with the expectation that a lower federal funds rate would help push mortgage rates lower.

Instead, the opposite has happened.

Since Fed Chair Jerome Powell lowered interest rates by 50 basis points on September 18, the average 30-year fixed mortgage rate has moved higher, not lower.

According to data from Mortgage News Daily, the average 30-year fixed mortgage rate has jumped about 47 basis points since the Fed rate cut, to 6.62% from 6.15%.

Fed easing hasn't led to lower mortgage rates, with the 30-year fixed rate rising since the first rate cut.