Home builder confidence ticked higher in September to 41, up two points from the August reading reported by the National Association of Home Builders (NAHB). Mortgage rates are also cooling to a 19-month low in September, the 30-year fixed rate mortgage receding to 6.2%.

As it is widely expected the Federal Reserve will cut interest rates on Wednesday, will rate cuts really be a boon to the housing market?

Middleburg Communities chief economist Brad Case joins Madison Mills and Seana Smith on Catalysts to discuss the latest round of housing data.

According to Case, rate cuts by the Fed won't fix the housing market's problems: "The basic problem with single-family, owner-occupied housing is just that it's way too expensive. It is overvalued to the extent that it was back in 2006 before house prices crashed."

Not only does Case say he doesn't believe a rate cut will aid the housing market's woes, he says the Fed should not adjust policy at Wednesday's meeting.

"I actually still think that there isn't really any reason to have any cut at all," he tells Yahoo Finance.

Case lays out two reasons for this: First, he says the Fed may want to avoid seeming political by cutting rates before the election; Second, he says the US economy remains strong and that cuts "simply" aren't necessary.

For more expert insight and the latest market action, click here to watch this full episode of Catalysts.

This post was written by Cheyenne Reid.