Boulder Realtor Finds That Interest Rates Defy Fed Cuts
Playing the Rate-Cut Game With Your Boulder Realtor
The Fed has cut short-term rates since September, but some consumer products have been affected more than others. Here’s how to take advantage of the discrepancies:
Savings Accounts, CDs and Money-Market Accounts
Rates on these savings products don’t fully reflect the Fed cuts, and banks continue to offer favorable yields. Consider longer-term CDs to lock in juicy yields if you think rates might continue to decline in the coming months.
Home-Equity Lines of Credit
Rates on these credit lines have fallen faster than rates on home-equity loans for new borrowers. Consider tapping a credit line, which lets you borrow money when you need it.
Credit Cards
Interest costs on variable-rate credit cards have declined in liine with the Fed cuts. Pay off balances on cards with the highest interest rates first.
Keep in mind that I’m not a financial advisor, I’m not a CPA nor an attorney. It’s always a great idea to consult with one of these professionals when you are making financial, tax or legal decisions.
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