Most consumers know rates are heading in the right direction.
Now, they need to know what to do about it. Here are several financial steps people can take to capitalize on this month's drastic Federal Reserve Board rate cuts and those expected in the months ahead. They apply to people who want to take out home equity lines of credit, auto loans, mortgages or other debt. We've also included advice for consumers holding credit cards and savers looking to maximize their return on certificates of deposit and money market accounts. Mortgage rates tanked in late 2000 as the economy sharply decelerated.