Fed Interest Rate

Fed Interest Rate Large Cut September 2024

September 18th, 2024

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 Drop Early August 2024

August 9th, 2024

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 in July 2024 Meeting?

August 1st, 2024

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 [...]

Fed Interest Rate Stays Unchanged June 2024

June 13th, 2024

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 [...]

Fed Interest Rate Stays Unchanged May 2024

May 6th, 2024

The Fed kept interest rates the same on May 1, 2024. This is a continued pause, as we saw in the March 2024 Federal Reserve meeting. Inflation continues to above the central bank’s goal of 2%, which is why the Federal Reserve Committee is not dropping rates again at this time. I had a closing [...]

Fed Interest Rate Remains Paused March 20 2024

March 20th, 2024

The Fed kept interest rates the same in their meeting March 20, 2024. This is a continued pause, and even with the pause, the Federal Reserve Chair still expects to see three rate cuts in 2024. Just not yet. Inflation is still above the central bank’s goal of 2%, which is why the Federal Reserve [...]

Fed Interest Rate Update March 6 2024

March 6th, 2024

The Federal Reserve Chair wrote in prepared remarks for a mandated regular appearance at congress that he doesn't anticipate rate drops quite yet. Inflation is still above the central bank’s goal of 2%, which is why the Federal Reserve Committee is not planning to drop rates at this time. The Fed Chair did say that [...]

Fed Leaves Rates the Same January 31 2024

February 1st, 2024

The Fed left the interest rates the same when they met on January 31, 2024. They stated that there are currently no plans to cut rates, as inflation is still above the central bank’s goal of 2%. They also indicated that as of right now, there are no plans to hike rates. Fed Chair Jerome [...]

Fed Interest Rate Unchanged November 2023

November 2nd, 2023

The Fed did not hike interest rates at the beginning of November 2023. This is a continued pause after the Fed also did not raise rates in September 2023. What does this mean for you and possibly buying a new Baltimore home and getting a mortgage? There should not be much of an effect on [...]

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