The Federal Reserve held its key interest rate steady for the fourth time this year on Wednesday, leaving its benchmark lending rate unchanged at a range of 4.25 percent to 4.5 percent. For homebuyers, this means that mortgage rates are likely to keep hovering around the 7-percent mark for the foreseeable future.

Here’s how the central bank’s interest rate stance influences car loans, credit cards, mortgages, savings and student loans.

The Fed is expected to hold rates steady as it continues to observe the effects of President Donald Trump's tariffs.