The Fed rate cut will have ripple effects across a variety of financial products. Learn how it'll impact your savings account.

Last November, the 30-year mortgage rate approached 8%. After the Federal Reserve cut interest rates on September 18, it’s approaching 6%.

While this is bad news for savers (rates on savings accounts and certificates of deposit will certainly decline), it's great news if you need to borrow money. After all, a few different types of loans will likely become cheaper as the Fed continues to cut rates over time. Here's what you can expect.

This week, the Federal Reserve cut its influential federal fund rates by 50 basis points. That could shake up the dynamic of the housing market, though perhaps not immediately.

The U.S. jobs report has overtaken inflation as the chief worry of the Federal Reserve as it plots how fast to cut interest rates.

Key Takeaways The unemployment rate in September likely stayed at 4.2%, forecasters expect an economic report to say Friday.Some forecasters expect the unemployment rate to tick up to 4.3%, potentially putting more pressure on the Federal Reserve to cut interest rates and boost the economy.