Say you've been holding off on signing or refinancing a mortgage because rates were stuck around 7%. Currently, the average 30-year mortgage rate is 6.09%, according to Freddie Mac. And there's a good chance you'll be able to lock in a mortgage rate at under 6% before the end of the year, assuming you have good credit.

The Fed’s rate cut reduces the target range for the federal funds rate, or the rate at which banks lend each other money overnight, to 4.75% to 5%. And Fed officials expect an additional 50 basis points of cuts this year, according to newly released projections.

Here's what to know about CDs and high-yield savings accounts following the Fed's first interest-rate cut in four years.

Investors have sent stocks and bonds higher on expectations of a soft landing. But some Republicans think the central bank overstepped its bounds.

The Federal Reserve cut rates for the first time since March 2020 at its September meeting. Savings rates decreased leading up to the Fed meeting and you may see slight dips in the coming weeks. You can still earn north of 5% APY with today’s best savings accounts and CDs.