The Federal open market committee meets today, and its decisions will be important to the market. But, for maybe the first time, nobody will care what it says about interest rates, which can already go to zero. And the market that may matter most to the Fed is the housing market.

The Fed can give details on quantitative easing - the ugly phrase for the art of buying bonds so as to push down the yields they pay, and stimulate the economy with lower rates, especially for mortgages.