Saturday, November 9th 2024, 1:28 pm
The Federal Reserve lowered its benchmark interest rate for the second time this year, more than two months after an unexpected half-percent cut.
Here are some key points about the Federal Reserve’s interest rate cuts:
Despite the Fed’s significant September cut, mortgage rates have continued to rise. The average interest rate on a 30-year fixed-rate loan is about 6.72%, according to Freddie Mac.
Hold on, though—many experts predict more rate cuts could be on the way.
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