My Blog Articles

Federal Reserve Cuts Interest Rate, 1st Time in 10 Years

Posted by Mark L. Corner on August 02, 2019 in  Interest Rates

July 31 the Federal Reserve cut its interest rate by 1/4%, the first rate cut in 10 years since the rate was slashed to near zero in the recession of 2008.  The Fed commented on President Donald Trump's trade wars, low inflation and global weakness as reasons for its rate cut.  And it signaled there may be another rate cut yet this year.  This is all good news as the Fed interest rate affects home mortgage rates.