That brings down the federal funds rate — the interest rate banks charge each other for borrowing money — to a range of 4.5% to 4.75% from its current 4.75% to 5% level.

The average rate for a 30-year mortgage reached a six-month high last week at 6.91 percent, according to Freddie Mac—less-than-stellar news for those looking to purchase a home in the near future.

According to the Labor Department’s most recent report, CPI in June was 2.7% higher than one year prior and 0.1% higher than in May.

Mortgage Rate Predictions: Here's Why Rates Are Staying High in July Mortgage rates are stuck in the mud, as uncertainty around Trump's economic policies keeps the Fed on hold.

The Federal Reserve sets the federal funds target rate, also known as the fed funds rate, which is the interest rate at which commercial banks lend to each other overnight. Below, CNBC Select ...

To get the absolutely lowest rate, opt to pay all closing costs out of pocket. Closing costs generally run between 2-5% of the loan amount. Shop multiple lenders ...

One way borrowers can get a lower interest rate is by putting more money down upfront. This strategy, called a mortgage buydown, involves buying mortgage points that lower your rate by a certain ...

Paying points or getting someone else to go through a mortgage rate buydown can reduce your interest rate permanently or temporarily. WSJ Barron's MarketWatch IBD. Buy Side from WSJ.

Fed Announces Big Rate Cut “We concluded that this was the right thing for the economy and the people we serve,” the Federal Reserve chair, Jerome Powell, said, referring to the central bank ...

The Fed cut its federal funds rate — the interest rate banks charge each other for short-term loans — by 0.25 percentage points, lowered the rate to a range of 4.25% to 4.5%, down from its ...