The (FOMC) is in the midst of its second meeting of 2025. Each time the committee meets, it could mean a change to the federal funds rate — which not only impacts financial institutions, but your bottom line, too. In its January meeting, the Federal Reserve decided to hold rates steady after implementing three interest…
Interest rates on many mortgage terms have decreased. According to Zillow, the 30-year fixed mortgage rate has been declining for several days, down three basis points today to 6.55%. This puts it at its lowest point since mid-December when it was at 6.50%. It may seem strange that mortgage rates are going down even though…
The Federal Reserve lowered the federal funds rate twice this year. As a result, deposit account rates are on the decline. The good news: You can lock in a competitive return on a certificate of deposit (CD) today and preserve your earning power. In fact, the best CDs still pay rates above 4%. Read on…
What Interest Rate Drop Means for Small Businesses WASHINGTON, DC — Federal Reserve Chair Jerome Powell announces on Dec. 18, 2024, that the Federal … [+] Reserve is lowering interest rates by a quarter percentage point to a range of 4.25% to 4.5%. (Photo by Alex Wong/Getty Images) Getty Images The Federal Reserve’s Federal Open…
Photo: Spencer Platt (Getty Images) In This Story The Christmas holiday is fast approaching, and the festive spirit is in full swing as people gear up for celebrations, shopping sprees, and family reunions. While only a few companies are set to release earnings reports this week, the stock market is bracing for a potentially pivotal…
The Federal Reserve slashed the federal funds rate (overnight interest rate) by 50 basis points on Wednesday, which was double the 25-basis-point adjustment it typically uses. Inflation has fallen sharply over the past year while the unemployment rate has stayed relatively steady (although it is beginning to tick higher), which were two key reasons for…
For the first time since March 2020, the is expected to lower the this week — and there . Rate cuts can be cause for celebration, particularly if you’re planning to buy a home or pay off debt. But you can also expect to earn less interest on bank deposits and some investments. In other…