3 things that may become cheaper now that the Fed cut rates

The new Federal Reserve interest rate cut could lead to additional savings for borrowers. Nuthawut Somsuk/Getty Images

Another month, another Federal Reserve interest rate cut .

For the second time in as many months, the central bank reduced interest rates on Wednesday by 25 basis points. Now at a range between 3.75% and 4.00%, the federal funds rate is down by a half percentage point from where it was on September 16. And the central bank may not be totally done cutting, either, with another rate reduction in the same amount widely expected at its December meeting .

While that may not be the news savers want to hear after becoming accustomed to high returns on select savings vehicles in recent years, it opens up new opportunities for borrowers previously saddled with high r