Mortgage refinance demand plunges 13% as interest rates climb toward two-year high
As mortgage rates continue to rise, demand for refinances is plunging and homebuyers are struggling.
As mortgage rates continue to rise, demand for refinances is plunging and homebuyers are struggling.
The Federal Reserve on Wednesday indicated it could soon will raise interest rates for the first time in more than three years.
This is a comparison of Wednesday's Federal Open Market Committee statement with the one issued after the Fed's previous policymaking meeting on Dec. 15.
Even with the market's violent correction, a hawkish Federal Reserve is expected to signal it plans to raise interest rates and consider other tightening.
At the Fed's two-day meeting, which ends Wednesday, it is expected to give more clues as to when it will hike rates and begin shrinking...
A gauge the Federal Reserve prefers to measure inflation rose 4.9% from a year ago, the biggest gain going back to September 1983.
Gross domestic product accelerated at a 6.9% annualized pace in the fourth quarter, well ahead of the 5.5% estimate.