What's next for mortgages, credit cards
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The last time the Federal Reserve cut the federal funds rate was on Sept. 17 when the benchmark rate was reduced by a quarter point. The Fed cut rates three times in 2024. The average 30-year fixed rate mortgage dropped to 6.27% as of Oct. 16 from a high ...
Here’s how the central bank’s interest rate moves influence car loans, credit cards, mortgages, savings and student loans. By Tara Siegel Bernard and Ron Lieber The Federal Reserve is expected to lower its key rate by another quarter point on Wednesday ...
As of the third quarter, Americans owe $1.23 trillion in credit card debt, an all-time high, the New York Fed says.