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The 30-year fixed-rate mortgage has risen every week since the Fed cut interest rates on Sept. 18, jumping from 6.2 percent to 7 percent in the week that ended on Nov. 7, according to Bankrate data.
The Fed cut rates by half a point in September, marking the central bank’s first rate-reduction during a 2 1/2 year battle against inflation in the wake of the COVID-19 pandemic.
Fed Chair Jerome Powell is taking questions from journalists after the central bank held interest rates steady following three consecutive cuts at the end of 2024.
The Federal Reserve held interest rates steady Wednesday amid growing speculation that the central bank would start rate cuts later this year. Fed Chair Jerome Powell is slated to give remarks ...
A reporter listens as U.S. Federal Reserve Chair Jerome Powell answers a question during a press conference following a two-day meeting of the Federal Open Market Committee on interest rate policy ...
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 ...
The Federal Reserve just lowered its benchmark rate by 0.50 percentage points. ... a homeowner with a $400,000 mortgage could save about $400 a month by refinancing into a loan at today's rate of ...
The Federal Reserve cut its key interest rate Thursday by a quarter-point in response to the steady decline in the once-high inflation that had angered Americans and helped drive Donald Trump’s ...