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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 Federal Reserve kept its thumb squarely on the pause button at this week’s meeting. That’s good news for your bank accounts, since another rate cut would probably mean a lower return on ...
Yields on savings accounts at the nation’s biggest banks, such as Chase and Bank of America, are the same today as they were when the Fed’s key rate was near-zero, hovering between 0.01-0.05 ...
That was the big debate among economists ahead of Wednesday's announcement, with some predicting that the Fed would shave its benchmark rate by 0.25 percentage points — the Fed's standard ...
The unemployment rate has risen modestly since the Fed began aggressively raising rates in March of 2022, but at 4.2% remains below the national long-run average and right at the level the median ...
Yet as expected, the Fed hit pause on any further changes to the Fed rate this week at its first policy meeting of the new year, leaving its key interest rate at a range of 4.25% to 4.50%.
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.