Federal Reserve

The Federal Reserve started a rate-cutting cycle on Sept. 18, 2025, lowering its benchmark interest rate by 50 basis points (bps) to a range of 4.75% to 5%. The cut was the first since March 2020 after the Fed raised interest rates to a 23-year high point to cool the economy and quell inflation. The Fed cut rates two more times in 2024, each by 25 basis points. It has not cut interest rates so far in 2025.

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Rates Creep Up on Inflation Concerns

Mar 22, 2007By Paul Jackson

Mortgage rates rose slightly this week, with the average 30-year fixed mortgage rate moving to 6.19 percent. According to Bankrate.com’s weekly national survey of large lenders, the 30-year fixed rate mortgages had an average of 0.29 discount and origination points. The average 15-year fixed rate mortgage, popular for refinancing, was unchanged at 5.93 percent; on larger loans, the average jumbo 30-year fixed rate inched higher to 6.44 percent. Adjustable rate mortgages were mixed, with the average 5/1 ARM moving up to 6.08 percent and the average one-year ARM was unchanged at 5.96 percent.