How interest rates have changed over the last 12 months for mortgages, car loans, credit cards and more

by anastasiakaufman-chime-me

PUBLISHED TUE, JAN 30 202411:51 AM ESTUPDATED TUE, JAN 30 20246:55 PM EST

POINTS

Interest rates for credit cards are likely to continue at elevated levels for the rest of 2024, even if the Federal Reserve cuts rates.
Rates for savings accounts aren’t likely to stay at the current highs for much longer.
Rates for auto loans and home mortgages will hopefully moderate as the year progresses.

A couple sits at a desk across from a banker smiling and shaking hands. — Getty Images

Inflation is cooling.

Consumer spending continues to be at record highs, while consumer confidence has been trending up. And, after almost two years of rate hikes by the U.S. Federal Reserve, investors are expecting at least a few cuts to interest rates this year.

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