How the Federal Reserve affects mortgage rates

When the Federal Reserve Board met in December of last year, it cut rates for the last time. After holding them at 4.25% to 4.50% for months, rates now stand at 3.50% to 3.75%.

While less than one percentage point might sound like a small change, the decision influences nearly every type of lending product, including mortgage rates, car loans and savings accounts.

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How the Federal Reserve affects mortgage rates | Business

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