Reported 1 day ago
The Federal Reserve is expected to slow down its cuts to the federal funds rate in 2025, which could prolong higher borrowing costs for consumers. While mortgage rates are anticipated to remain elevated, possibly around 6.3%, auto loan rates may see slight improvements early in the year. Meanwhile, credit card interest rates could decrease due to recent Fed rate cuts. However, upcoming policy changes, such as potential tariffs proposed by President-elect Donald Trump, might create uncertainty and impact inflation, influencing future interest rate adjustments.
Source: YAHOO