Mortgage rates ticked down on Wednesday as markets awaited the release of more economic data delayed by the government shutdown, and a divided Federal Reserve appeared to be leaning toward another rate cut in December. The average rate on 30-year fixed home loans dipped to 6.23% for the week ending Nov. 26, down from 6.26% … Read more
The perceived probability of a Federal Reserve interest rate cut next month has jumped dramatically after top officials closely allied with Fed Chair Jerome Powell expressed support for further rate cuts. New York Fed President John Williams, a permanent voter and key voice on the rate-setting Federal Open Market Committee (FOMC), said on Nov. 21 … Read more
There is “a very good chance” that President Donald Trump will announce his pick to lead the Federal Reserve before Christmas, according to the Cabinet official leading the search process. Current Fed Chair Jerome Powell‘s term will expire in May, and Trump’s early announcement of Powell’s successor could influence interest rates, including mortgage rates, by … Read more
Battle lines are being drawn at the Federal Reserve over an interest rate cut in December, as key policymakers stake out their positions both in favor and opposed to a cut. While a December cut was seen as a virtual certainty a month ago, financial and betting markets now rate the probability as a virtual … Read more
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