The Fed cut its short term interest rate by 0.50%. How will this affect mortgage rates, auto loans, and credit cards? Does the cut indicate a problem with the economy?

Prospective home buyers who were waiting until after the Federal Reserve’s meeting in the hopes of lower mortgage rates might be disappointed—at least in the immediate aftermath. Mortgage rates actually inched higher yesterday,

Buyers, sellers, and refinancers can benefit from how much rates have dropped already, off the expectation that the Fed would deliver an interest rate cut this month—and it did.