Refinance rates and much much more
25 percent. Needless to say, borrowers throughout the United States have received news of the lowering of interest rates with much anticipation. The Fed, however, is not actually responsible for setting the rates that are paid on mortgages, car loans, credit cards or other types of debt. Their actions however directly affect the up and down movement of these interest rates. The rates paid on mortgages for example, are dependent on Fed bank rates, and they are in a particularly advantageous position when the Fed lowers their rates.