What does an interest rate cut mean for home buyers, home owners and sellers?

What does an interest rate cut mean for home buyers, home owners and sellers? http://news.domain.com.au/domain/real-estate-news/what-does-an-interest-rate-cut-mean-for-home-buyers-home-owners-and-sellers-20150203-134t71.html?eid=socialn%3Atwi-13omn1677-edtrl-other%3Annn-17%2F02%2F2014-edtrs_socialshare-all-nnn-nnn-vars-o&sa=D&usg=ALhdy28zsr6qiq The Reserve Bank of Australia has slashed the offical cash rate by 25 basis point to a new record low of 2.25 per cent after growing speculation for a cut.