Mortgage rates have already edged down some to around 6.35% as of Sept. 11 from around 7% in January.

Many consumers have been on the sidelines lately waiting for interest rates to drop before buying a car, according to Edmunds.

Credit card rates will fall only slightly with the latest rate cut.

Right now, the average credit card rate is 20.12%, down from 20.79% in August 2024, according to Bankrate.com.

After a year of sitting on the sidelines, the Federal Reserve finally cut short-term interest rates by a quarter-point. It's perhaps the most boring financial news out there, given that many market watchers expected just what the Fed delivered.

And now the natural question is: What's next?

One rate cut won't solve anyone's financial woes. The expectation, though, is that economic c

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