America In Focus: Affordability concerns rise as Fed hikes key rate, mortgage rate reaches nearly 7%The Federal Reserve raised its benchmark interest rate Wednesday for the first time since 2023 in an effort to quell stubbornly high inflation, and the central bank signaled another rate hike could occur later this year. The quarter-point increase lifts the Fed’s key rate to about 3.9% and, over time, could result in higher borrowing costs for mortgages,…The Atlanta Journal-Constitution19d agoWhole story →BuildEconomyfederal reserve rate hike
Federal Reserve hikes key rate for 1st time in 3 years, defying Trump demands for a cutThe Federal Reserve raised its benchmark interest rate Wednesday for the first time since 2023 in an effort to quell stubbornly-high inflation, a move that could spur a sharp response from the White House. The quarter-point increase lifts the Fed’s key rate to about 3.9% and, over time, could result in higher borrowing costs for mortgages, auto loans,…The Atlanta Journal-Constitution22d agoWhole story →BuildEconomyfederal reserve rate hike
