Borrowing Costs: If you have loans (like a mortgage, car loan, or student loan), your interest rates may decrease, leading to lower monthly payments. Savings Accounts: Conversely, the interest you earn on savings accounts may also drop, reducing your overall returns. Credit Card Rates: Rates on credit cards might decrease, making it cheaper to carry a balance. Investment Opportunities: Lower rates can encourage more borrowing and spending, which may boost the stock market and other investments.