So much for a spring interest rate cut. Despite hope in late 2023 and early 2024 that interest rates would be cut this spring, the Federal Reserve on Wednesday announced that they were instead keeping rates untouched for now. That leaves the benchmark interest rate range between 5.25% and 5.50%. With reports for February and March showing inflation rising — and with it now sitting at 3.
But because your home is the collateral in these borrowing circumstances, it's important to carefully consider your repayment ability before getting started.Compare your home equity options online here.And here are three things to avoid in today's rate climate:Keeping your money in a low interest-earning accountThe average interest rate on a regular savings account right now is a minimal 0.46%.
Source: Loan Digest (loandigest.net)
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Why the Fed's keeping rates higher for longer may not be such a bad thingJeff Cox is a finance editor with CNBC.com where he covers all aspects of the markets and monitors coverage of the financial markets and Wall Street. His stories are routinely among the most-read items on the site each day as he interviews some of the smartest and most well-respected analysts and advisors in the financial world.
Source: NBCNewsHealth - 🏆 707. / 51 Read more »
Why the Fed keeping rates higher for longer may not be such a bad thingIt’s a tough case to sell that higher interest rates today are having a substantially negative impact on the course of the economy.
Source: NBCLA - 🏆 319. / 59 Read more »
19 Things People Predict Are Going Happen In The Next Several YearsOne thing is for sure, many people don't see AI as a good thing.
Source: BuzzFeed - 🏆 730. / 51 Read more »
Dear Abby: Caring for an elderly parent should be a ‘child thing’, not a ‘girl thing’If everyone did their share, no one would be overwhelmed with Dad’s care. How do I get my brothers to step up?
Source: njdotcom - 🏆 282. / 63 Read more »
Woman charged with helping Irving double murder suspect avoid arrestIrving police say Hector Paguada shot and killed his girlfriend, Nayeli Medina, and her mother, Juana Rodriguez, this January. He is still on the run.
Source: FOX4 - 🏆 289. / 63 Read more »
Hurricanes avoid major injury for DeAngelo and close in on getting Pesce back for Rangers seriesThe Carolina Hurricanes have avoided a major injury concern for defenseman Tony DeAngelo while veteran blue-liner Brett Pesce is nearing a return from a lower-body injury. Team president and general manager Don Waddell said Wednesday that Pesce has shed a walking boot.
Source: AP - 🏆 728. / 51 Read more »