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Interest Rates Today Sep 24 In a significant move, the Federal Reserve has cut interest rates by 0.5%, marking its first major reduction since 2020. This decision, announced at the September 2024 Federal Open Market Committee (FOMC) meeting, reflects concerns over a weakening labor market and cooling inflation trends. While inflation has eased, the Fed hinted at more rate cuts in the coming months, potentially reaching a total of 75 basis points by year-end. Economic Context: Reasons for the Cut The Fed's rate cut comes in response to mixed economic signals. The U.S. labor market, once the driving force of post-pandemic recovery, has shown signs of slowing down. Recent reports have indicated a decline in job growth, with unemployment expected to rise slightly toward the end o...

Interest Rate Today 18th Sep 24 As of September 2024, interest rates are a significant focus in the global financial landscape. The Federal Reserve recently made a pivotal decision, cutting its benchmark interest rate by 50 basis points for the first time since 2020. This shift marks a turning point after two years of aggressive rate hikes aimed at curbing inflation. Now, with inflation nearing the Fed’s 2% target, the focus has shifted to sustaining economic growth and protecting the labor market​ (KNAU) ​(Investopedia). Why the Rate Cuts Matter For the past two years, the Federal Reserve has steadily raised interest rates, reaching a 23-year high. The primary goal was to combat inflation by reducing consumer demand. Higher interest rates made borrowing more expensive, which...

Compare 15-year mortgage rates today Mortgage rates play a pivotal role in determining the affordability of your dream home. Among the various options available, the 15-year fixed-rate mortgage is often considered a prudent choice for those looking to pay off their home sooner and save on interest costs. As of today, 15-year mortgage rates continue to be an attractive option for many homeowners and buyers. In this article, we’ll dive into the current landscape of 15-year mortgage rates, compare them with other mortgage options, and provide tips on how to secure the best deal. Quick Overview of 15-Year Mortgage Rates A 15-year fixed-rate mortgage is a loan that is paid off over 15 years with a fixed interest rate. This type of mortgage has a few distinct advantages: Lower Inter...