On Wednesday, the Federal Reserve is widely expected to cut interest rates after keeping them at a 23-year high for more than a year, fueling hopes that America’s sluggish housing market might soon turn a corner.

The Federal Reserve has made its first rate cut in 14 months, with more expected in 2024. Here are the smart money moves to consider.

On Wednesday, Fed Chair Jerome Powell announced that the central bank would begin cutting Fed interest rates, starting with a .50 percentage point (50 bps) cut this month. The Fed also signaled that additional cuts were likely in their final two meetings this year in November and December, and more next year.

The Fed’s rate cut reduces the target range for the federal funds rate, or the rate at which banks lend each other money overnight, to 4.75% to 5%. And Fed officials expect an additional 50 basis points of cuts this year, according to newly released projections.

Compare your home equity options now. Should you borrow home equity now that the Fed's cut rates? The Federal Reserve's decision to

The Federal Reserve cut interest rates by half a point Wednesday, and mortgage rates often move in tandem. Here's what that could mean for Oklahoma.