<div id="readability-page-1">Money Fintech What The Fed’s 2025 Rate Cuts Mean For Banks And Fintech ByPam Kaur ,  Contributor.  Forbes contributors publish independent expert analyses and insights. Pam Kaur covers fintech and bank tech innovation and regulation. Follow Author Dec 04, 2025, 07:16am EST Share Save Comment  WASHINGTON - DECEMBER: Flags fly over the Federal Reserve Building in Washington, D.C. (Photo by Mark Wilson/Getty Images) Getty Images As of early December 2025, the Federal Reserve’s target federal funds range remains 3.75%–4.00%, and markets place a high probability on another cut at the December 10 Federal Open Market Committee meeting. Expectations for easing have strengthened as inflation cools and wage growth moderates. In recent public comments, several policymakers have signaled that the balance of risks is shifting toward supporting growth rather than tightening policy further.  But even as the Fed telegraphs a gradual move toward lower rates, pricing across the financial system is adjusting far more slowly. Borrowers have yet to see substantial relief, deposit yields remain unusually high and lenders across banking and fintech are recalibrating for what could be an extended period of cautious easing in interest rates in 2025.  The lag between policy direction and market pricing is shaping strategy as the year closes and will likely continue to define the credit landscape well into 2026.  How Falling Rates Are Reshaping Bank Margins And Deposits Banks benefited from higher net interest income over the past two years as loan yields rose faster than deposit costs. That dynamic is now shifting. Institutions that relied heavily on high-cost funding face growing margin pressure, while banks holding low-coupon securities purchased before rates peaked may see valuation relief as yields decline.  Recent results from regional and community banks show a mixed picture: some lenders report that deposit costs remain elevated in the near term because of competition and higher-rate CDs that have not yet repriced, while others are already seeing modest declines as funding rolls down and market rates ease. Against that backdrop, many smaller and regional institutions are emphasizing liquidity, funding stability and credit-quality management over rapid balance-sheet expansion as they navigate the early phase of the easing cycle.  MORE FOR YOU Deposit pricing is also moving more slowly than benchmark rates. Online banks and fintech platforms continue offering competitive APYs to retain customers, limiting the ability of traditional institutions to lower deposit rates quickly. As a result, deposit yields remain elevated even as broader market rates drift lower.  Why Borrowing Costs Aren’t Dropping Even As Rates Decline Mortgage rates have edged down, with the national average for a 30-year fixed loan recently at 6.23%–6.29% , according to Freddie Mac and market surveys. While below mid-2024 peaks, affordability remains strained due to limited supply and high home prices. Even a full percentage-point decline in mortgage rates next year may not meaningfully loosen affordability unless housing inventory improves, given how constrained supply remains.  Credit card APRs remain near historic highs, reflecting elevated delinquency risk rather than shifts in Fed policy alone. Issuers have emphasized that pricing reflects credit-risk conditions as much as monetary policy, and some have indicated in earnings commentary that they expect a slower adjustment in revolving-credit APRs until delinquency trends stabilize.  Auto-loan rates also remain firm, with promotional financing doing more to ease monthly payments than underlying rate reductions. Rising auto-insurance costs, now a major driver of total borrower expense, continue to weigh on household budgets and may limit the impact of any future cuts.  Fintech lenders—often the earliest movers when funding conditions shift—have begun lowering APRs selectively. Platforms that use data-driven underwriting models have widened approval bands for lower-risk borrowers and repeat customers as loss forecasts stabilize. Several lenders have indicated in recent earnings calls that they may expand originations selectively if credit performance remains stable and funding conditions continue to improve, particularly in personal loans and small-ticket installment credit.  What The Fed’s 2025 Path Means For Lending And 2026 Strategy Small-business lending remains tight at many banks, driven by concerns over commercial real estate exposure and uneven consumer spending across sectors. Recent SBA 7(a) lending trends show moderate softening in volumes, underscoring the cautious tone among traditional lenders.  Fintech lenders, by contrast, are cautiously expanding again, though underwriting is still more selective than it was before 2020. Many are prioritizing industries with predictable cash flow, such as professional services and logistics, while avoiding sectors with widening delinquency gaps, including hospitality, discretionary retail and certain segments of personal services.  Looking ahead, several indicators will determine how quickly pricing adjusts in 2026:  The Fed’s December 9–10 decision and any guidance on the pace of future cuts  Q4 earnings commentary from lenders on deposit costs, loan-loss provisions and liquidity strategies  Consumer credit-performance data , especially delinquencies in credit cards and auto loans  Funding-market conditions, which influence how quickly fintech lenders reprice APRs  Housing and labor-market signals that may influence lender risk appetite  Policy can shift quickly; pricing tends to lag. How banks and fintech lenders respond at different speeds will determine how consumers and businesses experience the next phase of the rate cycle and whether easing financial conditions translate into meaningfully lower borrowing costs.  Editorial Standards Reprints &amp; Permissions LOADING VIDEO PLAYER... FORBES’ FEATURED Video</div>

<p>美聯儲預計在 2025 年進行的降息將影響銀行和金融科技公司的借貸成本、存款收益和貸款策略。儘管有放鬆的信號，市場定價的調整速度緩慢，影響了銀行的利潤率和存款利率。抵押貸款利率略有下降，但可負擔性仍然緊張。金融科技貸款機構正在選擇性地降低年利率，而小企業貸款依然緊張。美聯儲的決策和未來指引將影響到 2026 年的定價調整</p>

美聯儲 2025 年降息：對銀行業和金融科技行業的影響