Average rate on a 30-year mortgage drops to lowest level since October
Borrowing costs on 15-year fixed-rate mortgages, popular with homeowners refinancing their home loans, also fell.
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Homeowners turn to cash-out refinancing to take advantage of big gains in home equity
Cash-out refinances, in which homeowners take out a loan for more than they owe on their mortgage and pockets the difference, accounted for roughly 60% of all home loan refis in the second quarter.
A top Federal Reserve official says dour jobs data backs case for 3 rate cuts
The jobs report that arrived last week, only a couple of days after the Fed voted on interest rates, showed that employers hired far fewer workers last month than economists expected.
Federal Reserve leaves interest rates unchanged even as Trump demands cuts
The choice to hold off on a rate cut will almost certainly result in further conflict between the Fed and White House, as Trump has repeatedly demanded that the central bank reduce borrowing costs.
Fed likely to stand pat on rates this week, deepening gulf between Powell and Trump
President Trump argues that the Federal Reserve in general and Chair Jerome Powell in particular are costing U.S. taxpayers hundreds of billions of dollars in interest payments by not reducing borrowing costs.
UPDATE: Trump says he’s ‘highly unlikely’ to fire Fed’s Powell after floating idea in private
President Trump made the statement less than 24 hours after suggesting in a private meeting that he was leaning in favor of dismissing the head of the nation’s central bank.
Powell says Fed rate cut on hold even as Trump demands cuts
The Federal Reserve will continue to wait and see how the economy evolves before deciding whether to reduce its key interest rate, Chair Jerome Powell said Tuesday.
Federal Reserve’s Bowman says rate cut should be on table in July
Michelle Bowman, who was appointed to the Fed’s board of governors by Donald Trump in 2018, is the second high-profile official to express support for a potential July cut in as many days.
Credit scores decline for millions as student loan collections restart
According to the Federal Reserve Bank of New York, about 1 in 4 people with student loan accounts were more than 90 days behind on payments at the end of March.
Federal Reserve leaves key rate unchanged as it sees risk of inflation, higher unemployment
Many economists and Wall Street investors still expect the Fed will reduce rates two or three times this year.
Federal Reserve likely to ignore Trump, keep rates unchanged this week
President Trump and Treasury Secretary Scott Bessent have said that inflation has steadily cooled and high borrowing costs are no longer needed to restrain price increases.
Fed keeps interest rate unchanged, sees slower growth, slightly higher inflation ahead
The Federal Reserve has again kept its interest rate at about 4.3%, as the central bank evaluates the impact of the Trump administration’s policies on the economy.
Economists expect Fed to cut rates twice this year
Fed officials have signaled interest rates may be on hold for some time amid uncertainty about President Donald Trump’s economic policies, particularly on trade.
Powell: Fed to stay on hold amid widespread economic uncertainty
Federal Reserve Chair Jerome Powell said the economy remains mostly healthy despite “elevated uncertainty.”
Inflation rose in January as prices for groceries, housing picked up
Wednesday’s data could strengthen the case for the Federal Reserve to remain in an extended pause mode while the economy is strong and inflation remains elevated.
Powell says Fed ‘well positioned’ for ‘risks and uncertainties’ that lie ahead
The Federal Reserve is prepared to keep its key interest rate unchanged for now as inflation remains elevated and the job market is solid, Chair Jerome Powell said Tuesday.
Federal Reserve holds rates steady, sees inflation as ‘elevated’
The Federal Reserve left its benchmark interest rate unchanged Wednesday after cutting it three times in a row last year, a sign of a more cautious approach as the Fed seeks to gauge where inflation is headed.
Federal Reserve expected to stand pat on rates even as Trump demands cuts
Fed officials have clearly signaled they expect to skip a rate hike, at least in January, to evaluate the job market and economy.
Capital One sued by watchdog alleging bank cheated customers out of $2B
The Consumer Financial Protection Bureau said Capital One promoted 360 Savings as an account that provides one of nation’s highest interest rates, but froze its rate at a low level for at least several years, even as rates rose nationally.
U.S. payrolls growth picks up, unemployment rate drops
The U.S. economy in December added the most jobs since March, capping a surprisingly strong year and supporting the case for a pause in Federal Reserve interest-rate cuts.