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The Fed hiked the federal funds rate (overnight interest rates) to a two-decade high of 5.33% between Mar. 2022 and Aug. 2023, in order to tame an inflation surge that resulted from pandemic ...
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 ...
Mortgage rates tick up. According to Freddie Mac, the average 30-year fixed-rate mortgage rose to 6.84%, up from 6.78% last week. From Freddie Mac: "Heading into the holidays, purchase demand ...
When the Fed last issued its dot plot in September, the median forecast was for the fed funds rate to end 2025 in a range of 3.25% to 3.5%. Instead of the four rate cuts in 2024 projected back in ...
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 ...
The central bank voted to keep its benchmark interest rate in a range of 5.25%-5.50% at the conclusion of its two-day policy meeting. The fed funds rate has been in this range since July 2023.
30-year fixed-rate mortgage: 5.75%. Change: -1.15 percentage point. Highest since 2009. Mortgage rates ended 2023 with a cooldown almost as fast as the surge.
High-yield savings rates for December 18, 2024. Today’s highest savings rates are at FDIC-insured digital banks and online accounts paying out rates of up to 5.05% APY with no minimums at ...