Banking
Biggest winners and losers from the Fed’s interest rate cut
6 min read
Interest rates are now on the decline, but borrowing costs are still the highest in over a decade. Here's what it means for your wallet.
“Borrowers should understand that ‘falling interest rates’ are not the same as ‘low interest rates.’ The urgency remains to pay down high-cost debt and utilize zero-percent or other low rate balance transfer offers to turbocharge credit card debt repayment.”
Every time the Federal Reserve adjusts interest rates, borrowing and savings rates move in lockstep. Compare Bankrate data to see how the latest Fed decision is impacting rates on key consumer products.
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About BankrateChief Financial Analyst
Principal U.S. Economy Reporter
Senior Economic Analyst