The Federal Reserve just lowered its benchmark rate by 0.50 percentage points. Here's how the move could impact your finances.

On the other hand, home equity loans typically have fixed rates, set when you take out the loan. So, if you currently have a HELoan, its rate won’t change with the Fed’s cut. You might want to consider refinancing to snag those lower rates. (More on that later.) Of course, new home equity loans can, and do, reflect any rate change by the Fed.

After years of rate hikes in its effort to tame rising inflation, the central bank has elected to do something it hasn’t done since 2020: make a cut. While on one hand the Feds

Experts are split on whether they agree with the rate cut; a rate reduction this large is usually reserved for recessions. However, this cut is also a welcome relief from three ye