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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.
In December they predicted just two rate cuts for all of 2025, down from a prior estimate of four. Read more: Federal Reserve policy enters 2025 wrestling with two key questions Watch the presser ...
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 ...
While 2024 saw three consecutive rate cuts, rates are expected to remain unchanged Wednesday. The central bank’s expected decision to pause cuts is likely to cause tension with the new ...
Thursday’s Fed rate cut reduced its benchmark rate to about 4.6%, down from a four-decade high of 5.3%. The Fed had kept its rate that high for more than a year to fight the worst inflation ...
Even as the Fed ordered the last of its 2024 rate cuts, at its December meeting, the panel forecast a significantly slower pace of cuts in 2025, citing lingering inflation and strong economic growth.
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 ...