Want to know how this week's Fed rate cut impacted the mortgage rate climate? Here are the latest interest rates.

Inflation has picked up in recent months alongside a hiring slowdown.

The Fed lowered its benchmark interest rate by a quarter percentage point, in an effort to shore up a weakening job market. With inflation remaining stubbornly high, it was not a slam dunk decision.

Three members of the Federal Reserve's policy committee discussed interest rates on Friday, and fittingly, given the divisions on the committee, had three different views on where it should go.

Federal Reserve Bank of Cleveland President Beth Hammack said she would prefer interest rates to be slightly more restrictive to keep putting pressure on inflation, which is still running too high.

The Federal Reserve's last meeting of 2025 will determine whether borrowers get more relief on interest rates.

By Howard Schneider and Michael S. Derby WASHINGTON, Dec 12 (Reuters) - Federal Reserve officials who voted against the U.S. central bank's interest rate cut this week said on Friday they are worried that inflation remains too high to warrant lower borrowing costs,

Jerome Powell has concluded his news conference following the announcement that the Federal Reserve will cut the country's key lending rate by a quarter point. This is the third reduction this year brings the key interest rate to 3.50% to 3.75%. Powell affirms the Fed's commitment to keeping inflation low and near the Fed's target.