Bullet points of Here are the credit products already cheaper after the Fed's rate cut
Bullet points of Here are the credit products already cheaper after the Fed's rate cut
- The Federal Reserve cut its target range to 4.75%-5% on Wednesday, a reduction of 0.5 percentage points from its prior level.
- American Express and US Bank have lowered the offered APRs on several credit cards on their websites by 0.50 percentage points.
- Mortgage rates also dropped last week, decreasing to their lowest point since February 2023, according to Freddie Mac.
- The Fed's rate reduction could result in significantly lower borrowing costs by this time next year.
- The Federal Reserve cut its target range to 4.75%-5% on Wednesday, a reduction of 0.5 percentage points from its prior level.
- American Express and US Bank have lowered the offered APRs on several credit cards on their websites by 0.50 percentage points.
- Mortgage rates also dropped last week, decreasing to their lowest point since February 2023, according to Freddie Mac.
- The Fed's rate reduction could result in significantly lower borrowing costs by this time next year.