Refinancing your mortgage can help you get a lower monthly payment. You also have the opportunity to change up your loan type and term. A cash-out refinance is another mortgage refinancing option that lets you convert home equity into cash. That lump sum could pay for a home renovation or to retire high-interest credit card or student loan debt.

We concluded that this was the right thing for the economy and the people we serve,” the Federal Reserve chair, Jerome Powell, said, referring to the central bank’s decision to cut interest rates by half a point.

Is a CD account still valuable with interest rate cuts? Here are three reasons why they're still worth opening.