That triggered a rush to buy existing T-bonds. Prices rose, and yields fell. For most individuals, no. If you own a bond mutual fund, for example, the shares are probably worth a bit more today. Ryan Labs, which tracks bonds, says the bond rally Wednesday and Thursday was the sharpest since 1998.
Stocks typically rally when interest rates fall.
Lower bond yields also mean lower long-term borrowing costs for corporations. They also make stocks more attractive, compared with bonds. Mortgage rates are closely tied to the yield on 10-year Treasury notes, which also fell sharply Thursday. I think mortgages have gotten a little disassociated from the bond market. Gumbinger suggests prospective home buyers investigate some of the hybrid adjustable-rate mortgages, which offer very low rates for three to seven years.