NASHVILLE, Tenn. (WTVF) — The Federal Reserve's recent interest rate cut could create a ripple effects across the housing market and personal finance landscape, offering new opportunities for borrowers while potentially diminishing returns for savers.

The Fed reduced rates by a quarter of a percentage point in its first cut this year, a move that signals lower borrowing costs ahead.

"Such a small decrease as this, it really will affect an everyday buyer, where $200 to $300 a month is the difference between getting groceries or not being able to get groceries," local realtor Jazmyn Bethel said.

The housing market is already responding to the rate environment. According to Freddie Mac, the average 30-year fixed mortgage rate was 6.35% as of Sept. 11, representing some of the lowest rates

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