In our latest podcast, we explore the Federal Reserve’s recent half-point interest rate cut—from 5.5% to 5%. This is the Fed’s first major reduction since 2019 and coincidentally occurred on the same day as a half-point cut in 2007.

Here’s a brief look at how this rate cut may impact you:

Savers and Borrowers

• Borrowers: Lower rates mean cheaper borrowing costs, benefiting those with variable-rate debts and those taking on new loans.

Housing Market

Mortgage rates are easing, with the 30-year fixed rate dipping to 6%. For context, last year's rates peaked around 7.8%.

Market Reactions

Stocks rallied after the rate cut, as lower borrowing costs tend to boost spending and investment.

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