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Despite the Fed's September cut, mortgage rates have increased over the last month, with the average interest rate on a 30-year fixed-rate loan sitting at about 6.72%, according to Freddie Mac ...
Some of those rates, notably mortgages, have fallen quite a bit as the Fed has telegraphed its intentions for rate cuts: The average 30-year fixed rate mortgage recently fell to 6.20%, according ...
The wait is over. After more than a year of will-they-or-won’t-they, the Federal Reserve on Sept. 18 announced the first cut to its benchmark federal funds rate since the early days of the COVID ...
The Federal Reserve went big with its first interest rate cut since March of 2020. The Fed announced a half-point cut in the federal funds rate, dropping to 4.875%, down from a 23-year high of 5. ...
On Wednesday, the Fed announced that it reduced its key rate by an unusually large half-percentage point, to between 4.75 and 5 percent, the first rate cut in more than four years. ... The Federal ...
Mortgage rates fell sharply leading up to the Fed’s first rate cut, dropping all the way from 8.01 percent in Oct. 2023 to 6.20 percent as of Sept. 18, 2024, according to Bankrate’s national ...
The FOMC cut rates by 25 basis points. They drew back on their easing bias somewhat by removing "downside risks to growth remain" from its statement, but left no sign of a future pause to the interest rate cuts. Fisher and Plosser dissented, preferring no change. Official statement: March 18, 2008 2.25% 2.50% 8–2
While that might sound like an easy fix, there is a lot more that comes with a rate cut, both positive and negative. On Sept. 18 the Federal Reserve cut the federal funds rate ½ of 1% from 5.50% ...