Banking
Biggest winners and losers from the Fed’s interest rate cut
6 min read
The Federal Reserve and Your Money
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.
The latest on the Fed from Bankrate’s experts
“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.”
Fed cuts interest rates by quarter point but faces uncertainty following Trump’s election win
The Federal Reserve cut interest rates for the second consecutive meeting on Thursday but this time by a smaller quarter of a percentage point, as inflation continues cooling and a slowdown in the job market stabilizes.
Read More
Recent interest rate trends
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.
Mortgage rates
This week's mortgage news
Savings rates
What is the average interest rate for savings accounts?
Auto loan rates
Current car loan interest rates
HELOC rates
This week's HELOC news and analysis
Credit card rates
Current credit card interest rates
Experts in all things finance
Our expert reporters and editors bring the news and analysis you need—backed by data and firsthand experience.
About Bankrate
Chief Financial Analyst
Principal U.S. Economy Reporter
Senior Economic Analyst
Editor's picks
Follow us for the latest financial news:
Greg McBride, CFA
Chief financial analyst, Personal Finance
Mark Hamrick
Washington Bureau Chief, Senior Economic Analyst
Sarah Foster
Principal U.S. Economy and Federal Reserve Reporter
Latest articles
From trade worries to market volatility, pay attention to these trends in the new year.
Learn all about Jerome Powell, who is presiding over his first FOMC policy meeting.
Bankrate delivers the latest news to you.
The key benchmark has been as high as 20 percent — and as low as 0 percent.
Rate cuts mark a new era for the Fed. Here’s what you should do as a consumer.
Follow along as Bankrate’s experts break down the Fed’s next interest rate decision.
Every financial decision you make is impacted by the Federal Reserve.
Some high-profile economists have called the Fed’s half-point call “a mistake.”
Rate cuts are coming. Just don’t call this a low-rate environment just yet.
Behind the slowing economy is a Fed determined to defeat red-hot inflation.
You might not feel better about inflation because prices are still up post-pandemic.
Savings yields topping inflation could let you hold onto your purchasing power.
Consider a savings account with an APY above the inflation rate.
The key benchmark has been as high as 20 percent — and as low as 0 percent.
Rate cuts mark a new era for the Fed. Here’s what you should do as a consumer.
For savers, here’s what to consider when the Fed raises interest rates.
The Federal Reserve announced that it’s lowering interest rates following its Nov. 6-7 meeting.
Some high-profile economists have called the Fed’s half-point call “a mistake.”
Rate cuts are coming. Just don’t call this a low-rate environment just yet.
The trusted provider of accurate rates and financial information