The Fed indicated rates will remain higher for longer. What does that mean for you? [Financial Post (Toronto, Ontario, Canada)]
Ally Financial Inc. (ALLY)
Last ally financial inc. earnings: 4/20 07:30 am
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Source: Financial Post
NEW YORK (AP) — Mortgage rates, credit card rates, auto loan rates, and business loans with variable rates will all likely maintain their highs, with consequences for consumer spending, after the Federal Reserve indicated Wednesday that it doesn't plan to cut interest rates until it has “greater confidence” that price increases at the consumer level are slowing to its 2% target. The central bank kept its key rate at a two-decade high of roughly 5.3%, where it has been since last August. Article content Article content Here's what to know: WHAT DOES THIS MEAN FOR BORROWERS? Credit card rates are at or near all-time peaks, and mortgage rates have more than doubled in recent years. According to LendingTree, the average credit card interest rate in America today is 24.66%, unchanged from last month, though that rate has risen for 24 of the last 26 months. “That isn't likely to fall anytime soon, despite the Fed taking its foot off the gas,” said LendingTree Credit Analyst
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News
- Best CD Rates Today -- Don't Pass Up APYs This High, May 16, 2024 [CNET News]CNET News
- Ally Executives Discuss Collaboration, Modernization And Innovation [Forbes]Forbes
- Best CD Rates Today -- The Clock Is Ticking on High APYs, May 15, 2024 [CNET News]CNET News
- Customer satisfaction at online banks has dropped, but still higher than at brick-and-mortar banks – Study [Yahoo! Finance]Yahoo! Finance
- Best CD Rates Today – Don't Wait to Lock in One of Today's High APYs, May 14, 2024 [CNET News]CNET News
ALLY
Earnings
- 4/19/24 - Beat
ALLY
Sec Filings
- 5/16/24 - Form 4
- 5/16/24 - Form 4
- 5/16/24 - Form 4
- ALLY's page on the SEC website