Fed Rate Remains Unchanged, For Now

Although the Federal Reserve did not raise interest rates at its latest policy meeting yesterday, analysts still expect another rate hike sometime this year. 'Further gradual increases in the target range for the federal funds rate will be consistent with sustained expansion of economic activity, strong labor market conditions, and inflation near the Committee's objective', said the Federal Open Market Committee in a statement. The Fed has already raised rates three times in 2018. Mortgage rates are not as directly affected by Federal Reserve rate increase as credit card rates, auto loan rates, etc.

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