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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.
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 Fed had cut rates in its previous three meetings from September to December 2024. Investors expect the Fed to start cutting rates again in June if the current economic data continues to hold.
The committee voted 11-1 to cut rates by a half point to a range of 4.75 to 5%, with Fed governor Michelle Bowman advocating for just a quarter-point cut. The Fed projected lowering rates another ...
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.
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 ...
The central bank’s first rate cut since 2020 came after a recent stretch of data had established the key conditions for a rate cut: falling inflation and slowing job gains.