The Federal Reserve announced its second interest rate cut of 2025 on Wednesday, lowering its benchmark rate by 0.25 percentage points.

Many economists say the quarter percentage point cut could help reduce rates for credit cards and loans, such as home equity lines of credit.

But for savers, it means lower returns as banks offering top interest rates tend to pay more when the U.S. central bank hikes rates and less when it cuts them, according to Bankrate.

While mortgage rates aren't set by the Fed, they're heavily influenced by its policy moves. Mortgage rates have already dipped ahead of the Fed's rate decision.

While every reduction helps, Mical Jeanlys-White, founder and CEO of Wealthmore , a Center City-based financial advisory firm, cautions a quarter point decrease won't

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