Interest Standstill: What It Means for You

Rates aren't moving, but your money should be!                                                                                                                                                                                                                                                                                                                                                                                                                 May 29, 2024 | [Read Online]( In partnership with Hello, finance fans! Have you noticed that even though the Federal Reserve hasn't changed interest rates since July 2023, your credit card interest is still really high, but your savings account is earning more money? Let's explore how U.S. interest rates affect your money unexpectedly. INTERESTING Fed on Hold, But Interest Rates Are Still on the Move [4-minute read]( Many people thought interest rates would go down this spring, but high inflation made the Federal Reserve keep rates the same. Even though the Fed isn't changing rates now, the decisions they made in the past are still affecting our money situation. If you've been saving your money carefully, here is some exciting news: banks offer some of the highest interest rates in a long time. Some accounts are offering a remarkable 5.35% interest. That's good! However, don't get too comfortable—the good times might not last. Interest rates might go down soon, which means the money you earn from your savings could decrease. So, make the most of these high rates while you can! Remember CDs? I'm not talking about those old music discs, but Certificates of Deposit! They're also benefiting from high-interest rates. Although the rates have dropped slightly, a 1-year CD offers a reasonable 1.81% interest rate. It's a great option if you want to keep your money safe. Here's some news that might be better: credit card interest rates are staying high at around 20%, and they're likely to drop soon. These rates remain the same, even if the Federal Reserve changes other rates. Consider getting a balance transfer card. This card lets you move your debt to a new card that doesn't charge interest for a period. This can help you pay off your debt without the extra burden of high interest. Mortgage rates are significant when it comes to buying and selling houses. These rates often change along with the 10-year Treasury bond yields, not just because of what the Federal Reserve decides. Luckily, mortgage rates have decreased from a high of 8% to a more reasonable 6.6%. Decreased rates could motivate more individuals to list their homes for sale, slowing the expansion in land costs. Even though the Federal Reserve isn't raising interest rates right now, managing money and understanding how these rates influence your finances will help you make the most of your money can still be tricky. Don't stress about keeping track of all these changes on your own—we're here to help! Enhance your real estate circumstances, maintain your savings growth, and focus on debt reduction. We are here to assist you in comprehending it all. Want to get better at managing your money? We've got you covered Whiskey, known for its rapid appreciation and bond-like lack of volatility, offers a unique alternative to traditional investments. Vinovest completed its third whiskey exit in December 2023, resulting in a 23.3% return for clients. Explore exclusive and limited edition whiskey releases, carefully curated for investors like you. These casks often appreciate in 3 to 5 years, presenting exciting short-term growth opportunities, perfect for portfolio diversification. Start investing in whiskey today. [Get started](. See you next time! Keep growing your savings and reducing your debts. Sincerely, The Real Estate Investing News P.S. Stay ahead of the game with us; we'll make sense of the rates for you! Must-Watch [Spring Brings Surge in Home Sales Despite Costly Market 🎬]( [Don't Be Shy! The Ultimate Guide to Negotiating Real Estate Agent Fees 🎬]( Ready to turn your real estate dreams into reality? [Sign Up]( for our newsletter for more insider tips and expert advice on funding your investment journey! 🏠[tw]( [yt]( Update your email preferences or unsubscribe [here]( © 2024 REAL ESTATE INVESTING NEWS 228 Park Ave S, #29976, New York, New York 10003, United States [[beehiiv logo]Powered by beehiiv](