The Federal Reserve is poised to cut its key interest rate, which is likely to lead to a series of additional cuts, benefitting borrowers.
Some economists predict rates could decrease by a full percentage point before the year ends, impacting borrowers positively, despite static costs from credit card companies.
Currently, auto rates and car prices remain elevated; however, dealerships are incentivizing purchases through discounts, which will likely continue.
As interest rates fall, borrowers can expect more favorable loan conditions, even as the financial institutions may offer reduced returns for savers.
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