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The Federal Reserve has lowered interest rates over the past few months. Here’s how their actions affect you.

USA TODAY

Dear Pete,

Everywhere I look people are buying homes. My girlfriend and I are renting right now, and are starting to feel like we’re doing something wrong, because many others are currently trading-in renting for owning. Our financial life is OK right now, but I feel like being a homeowner would be a risk, because we don’t have a ton of savings. Are we throwing our money away by renting? 

— Matthew; Salt Lake City, Utah

The real estate market across much of the U.S. is red hot. It seems as though newly listed homes are selling within days, and in some cases, hours. This is great news if your financial goal is to sell a