Fed Rate Cut Not Helping Consumers

Borrowing costs continue to rise for homes, cars and other loans even as interest rates drop for money market, savings and checking accounts.

In short, consumers are getting squeezed at both ends despite the Federal Reserve's decision to lower its benchmark rate to 1%.

Mortgage rates ended the week higher after temporarily edging lower following the Fed's cut. On the savings front, however, interest rates keep falling for CDs, money markets, savings and checking accounts. ...