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Federal Reserve Raises Rate to 10-Year High

Mortgage News > Federal Reserve Raises Rate to 10-Year High
Date: 09/26/2018    Federal Reserve Raises Rate to 10-Year High

The Federal Reserve increased its target interest rate to a range of 2 to 2.25%, the highest level in over a decade. The Fed also kept its forecast in place for another three rate hikes by the end of 2019. The likely result will be higher immediate interest rates for adjustable rate mortgages and HELOCs and gradual increases in fixed-rate mortgage rates.

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