The Fed left interest rates the same on May 7, 2025. This is a continued pause after the Fed paused interest rate changes in the January 2025 Federal Reserve meeting , and remained paused in the March 2025 Federal Reserve meeting. Prior to that there were three drops - a 1/4 point drop in both [...]
The Fed left interest rates the same on March 19, 2025. The Fed paused interest rate changes in the January 2025 Federal Reserve meeting, but prior to that there were three drops - a 1/4 point drop in both the December 2024 Federal Reserve meeting and in the November 2024 Federal Reserve meeting and a [...]
Do Credit inquiries affect credit scores? Yes and no. It depends on the type of inquiry. There are two types on credit inquiries, a hard inquiry and a soft inquiry. A hard inquiry is for situations like: Applying for a mortgage loan on a house, applying for a credit card, requesting a credit line increase [...]
The Fed left interest rates the same on January 29, 2025. This is the first pause after three drops - a 1/4 point drop in the December 2024 Federal Reserve meeting, 1/4 drop also in the November 2024 Federal Reserve meeting and a 1/2 point drop in the September 2024 Federal Reserve meeting, which happened [...]
The Fed provided a 1/4 point interest rate cut on December 18, 2024. This is third drop after a 1/4 point drop in the November 2024 Federal Reserve meeting and a 1/2 point drop in the September 2024 Federal Reserve meeting, which happened after continued pauses in March 2024, May 2024 and June 2024 Federal [...]
The Fed provided a 1/4 point interest rate cut on November 7, 2024. This is welcome second drop after a 1/2 point drop in the September 2024 Federal Reserve meeting, which happened after a continued pause that we saw in March 2024, May 2024 and June 2024 Federal Reserve meetings. Prior to those pauses, we [...]
The Fed provided a 1/2 point interest rate cut on September 18, 2024. This is welcome large drop after a continued pause, as we saw in March 2024, May 2024 and June 2024 Federal Reserve meetings. Most economists expected a 25 basis point drop, so this 50 basis point drop is a huge step. The [...]
Mortgage rates have been dropping, and have hit the lowest we have seen since May 2023. According to Freddie Mac and reported by CNN Business, interest rates averaged 6.47% this past week for a standard 30-year fixed mortgage. The prior week, the average was 6.73%, so this is a pretty big drop. Why is this [...]
What did the Fed do with interest rates July 31, 2024? The Federal Reserve kept interest rates steady again, with claims that a rate cut could potentially come as soon as September. The Fed Chair, Jerome Powell, said that if inflation continues to fall, he expects they could cut interest rates when they next meet [...]
The Fed kept interest rates the same on June 12, 2024. This is a continued pause, as we saw in both March 2024 and May 2024 Federal Reserve meetings. Inflation is still above the central bank’s goal of 2%, which is why the Federal Reserve Committee is not dropping rates again at this time. The [...]