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The Fed cut its federal funds rate — the interest rate banks charge each other for short-term loans — by 0.25 percentage points, lowered the rate to a range of 4.25% to 4.5%, down from its ...
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 30-year fixed-rate mortgage has actually increased since the U.S. central bank cut borrowing costs in September for the first time since 2020. Savers, however, have something to celebrate.
The Federal Reserve on Wednesday announced its third consecutive interest rate cut of 2024, reducing its benchmark rate by 0.25 percentage points amid cooling inflation. Yet in a blow for ...
The Federal Reserve cut its key interest rate Wednesday by a quarter-point — its third cut this year — but also signaled that it expects to reduce rates more slowly next year than it ...
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 ...
Along with trimming the number of rate cuts expected this year, the new rate projections raised the long-run "neutral" rate needed to keep inflation in check while maintaining steady growth to 2.8 ...
The decision to stay the course for three rate cuts this year — the same number of cuts forecast in December — comes after sticky inflation data was thought to push officials to scale back the ...