Federal Reserve policymakers appear increasingly divided over whether to cut interest rates again in December, and even the resumption of federal economic reports as the government reopens may not settle the debate. Last month, after the rate-setting Federal Open Market Committee voted to cut rates for the second time in a row, Chair Jerome Powell … Read more
Mortgage rates climbed on Thursday after four straight weeks of declines as markets adjusted their expectations following Federal Reserve Chair Jerome Powell‘s remarks on the likelihood of future rate cuts. The average rate on 30-year fixed home loans increased to 6.22% for the week ending Nov. 6, up from 6.17% the week before, according to … Read more
Job growth in the private sector made a surprise surge last month, raising doubts about whether the Federal Reserve will continue cutting interest rates in December. Companies added 42,000 jobs in October, more than expected and the first monthly payroll growth since July, according to data released by payroll processor ADP on Wednesday. With federal … Read more
The U.S. housing market, along with other segments of the economy, may already be in a recession because the Federal Reserve has not been aggressive enough cutting interest rates, Treasury Secretary Scott Bessent said Sunday. “I think that we are in good shape, but I think that there are sectors of the economy that are … Read more
The Federal Reserve’s interest rate cut this week was widely expected, but Fed Chair Jerome Powell’s comments afterward included surprises that are poised to send mortgage rates higher. After Fed policymakers voted to cut the benchmark rate by a quarter point, Powell told reporters that another rate cut in December is “far from” certain, acknowledging … Read more
The Federal Reserve has announced its second interest rate cut in a row, easing monetary policy as concerns grow about rising layoffs and economic fallout from the government shutdown. Fed Chair Jerome Powell joined the majority of the Federal Open Market Committee (FOMC) to vote for the quarter-point rate cut at Wednesday’s meeting in Washington … Read more
Even as Federal Reserve officials deliberate this week on interest rate policy, major employers including Amazon, UPS, and Target are announcing significant layoffs that may heighten the urgency for a rate cut. On Tuesday, as Fed Chair Jerome Powell and other members of the rate-setting Federal Open Market Committee (FOMC) began their two-day meeting, Amazon … Read more
Blinded by a data blackout during the government shutdown and deeply divided on the correct path forward, top Federal Reserve officials are meeting again to decide their next move on interest rates. Fed Chair Jerome Powell is joining other members of the Federal Open Market Committee (FOMC) in Washington, DC, on Tuesday for the two-day … Read more
Mortgage rates dipped yet again. The Freddie Mac 30-year fixed rate fell to 6.19%, its lowest level in more than a year. That’s a meaningful drop, and it comes as markets fully price in another possible Federal Reserve rate cut after it meets next week. While this gives buyers some breathing room, it’s worth noting … Read more