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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 ...
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.
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 ...
At the conclusion of its seventh and penultimate rate-setting policy meeting of 2024 on November 7, 2024, the Federal Reserve announced it was lowering the federal funds target interest rate by 25 ...
At the conclusion of its fifth rate-setting policy meeting of 2024 on July 31, 2024, the Federal Reserve left the federal funds target interest rate at a 23-year high of 5.25% to 5.50% for an ...
For the first time in four years, the Federal Reserve's benchmark, short-term rate was scaled back by a half percentage point.The previous 23-year high remained stagnant since July 2023 until ...
At the conclusion of its fifth rate-setting policy meeting of 2024 on July 31, 2024, the Federal Reserve left the federal funds target interest rate at a 23-year high of 5.25% to 5.50% for an ...
The Fed is widely expected to hold interest rates steady this Wednesday at its first policy meeting of 2024. Investors will be looking for any clues about when cuts could begin.