How Will Today's Federal Reserve Meeting Impact Mortgage Rates? [CNET News]
First American Corporation (New) (FAF)
Last first american corporation (new) earnings: 4/23 06:45 am
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Source: CNET News
The Federal Reserve is meeting today and tomorrow, but don't expect a rate cut Two years after the Fed began bumping interest rates, mortgage rates are staying high. Because inflation has proven to be sticky and far from the central bank's 2% annual target, the Fed is likely to maintain its current benchmark rate in the 5.25% to 5.50% range. Though lower interest rates had been projected for this year, the Fed has to be confident that cutting rates won't accelerate economic growth. And while keeping rates steady is preferable to hiking them again, an elevated federal funds rate doesn't bode well for borrowers. Unaffordable mortgage rates leave prospective homebuyers on the sidelines and the housing market somewhat immobilized. Despite some expectations for a rate cut further down the road in 2024, it's improbable in the immediate future. Economic data will play a major role in determining when -- and by how much -- borrowing rates are cut. Here's what to know about how the gove
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FAF
Earnings
- 4/24/24 - Miss
FAF
Sec Filings
- 5/13/24 - Form 13F-HR
- 4/26/24 - Form 10-Q
- 4/24/24 - Form 8-K
- FAF's page on the SEC website