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The Federal Reserve raised its benchmark interest rate, which will increase rates on loans from mortgages and auto to credit cards. WASHINGTON, D.C. – In its latest meeting, the Federal Reserve Federal Open Market Committee (FOMC) decided to raise the target range for the federal funds rate by 25 basis…
The rate for a 30-year fixed-rate mortgage surpassed 7% for the first time since January 2025 last week, according to federal lender Freddie Mac. That’s after the Federal Reserve’s first rate hike since 2023, raising rates by a quarter of a percentage point earlier this month.
Interest rates, interest rates, interest rates….an item that we seem to discuss with clients daily.