Housing Mortgages Information

FOMC Cuts Target by 25 Bps to 2.00%, Says Economic Activity “Remains Weak”

The Federal Reserve announced Wednesday that it cut the Fed funds target rate by 25 basis points to bring the key interest rate to 2.00%. The discount rate was also cut by 25 basis points to 2.25%.

In an accompanying statement, the Fed said "substantial" easing should promote growth, but that economic growth "remains weak."

The Fed said credit and housing will...