interest

Grace Cary/Getty Images (NEW YORK) — The Federal Reserve delivered a jumbo-sized rate cut this week in a move widely viewed as a declaration of victory over inflation and a signal of relief for borrowers. Few areas of the economy welcomed the news more than the nation’s sluggish housing market, where high mortgage rates have […]

Bloomberg Creative/Getty Images (NEW YORK) — The Federal Reserve cut its benchmark interest rate a half of a percentage point on Wednesday in a landmark decision that dials back its years-long fight against inflation and delivers relief for borrowers saddled with high costs. The central bank’s first rate cut since 2020 came after a recent […]

Grace Cary/Getty Images (NEW YORK) — Rising inflation has driven mortgage rates up, making it difficult for many Americans to find an affordable home. As a result, many potential buyers find themselves waiting for an interest rate cut to bring mortgage prices down. For more than a year, LaToya Trotter has worked closely with trusted […]

Andrew Harnik/Getty Images (WASHINGTON) — Borrowers eager for the Federal Reserve to abandon high interest rates could not have scripted a better four-word declaration than the one on Friday from Fed Chair Jerome Powell: “The time has come.” Powell indicated that the Fed would soon bring interest rates down from a 23-year high. The shift […]

Javier Ghersi/Getty Images (NEW YORK) — At the start of 2024, the economy appeared to deliver just about everything President Joe Biden could want: falling inflation, robust growth and a forecast of interest rate cuts at the Federal Reserve that might send economic output even higher. Since then, however, the sunny outlook has darkened. Inflation […]

Tetra Images/Getty Images (NEW YORK) — For months, the Federal Reserve has forecasted interest rate cuts that would deliver much-needed relief for Americans burdened by high mortgage and credit card loans. At a press conference this week, however, Fed Chair Jerome Powell cast doubt on whether those rate cuts would arrive after all, saying the […]

Javier Ghersi/Getty Images (NEW YORK) — When the Federal Reserve recently signaled interest rate cuts next year, the stock market soared to record highs and analysts voiced sunny hopes of a “soft landing.” Arriving less than a year before the presidential contest, the announcement raised a separate consideration: What the rate cuts could mean for […]

Bloomberg Creative/Getty Images (WASHINGTON) — A Federal Reserve announcement rallied all three major stock indexes to one-year highs on Wednesday — and the enthusiasm owed little to what the central bank actually did. In addition to pausing its benchmark interest rate, the Fed forecasted a series of rate cuts next year. The move would start […]

IronHeart/Getty Images (NEW YORK) — Mortgage rates stand at their highest level in more than two decades. The average rate for credit card holders tops anything on record at the Federal Reserve. Car loans have returned to 2008 levels, car research group Edmunds found. Pain-inducing interest rates for just about any loan, experts said, trace […]

IronHeart/Getty Images (NEW YORK) — The Federal Reserve raised interest rates to a 22-year high this week — a milestone that carries major implications for the finances of everyday people, experts told ABC News. The move escalated an aggressive series of rate hikes that has helped dramatically reduce inflation from a peak last summer. But […]