Fulfilling expectations of a “hawkish cut,” the central bank’s Federal Open Market Committee lowered its key overnight borrowing rate by a quarter percentage point, putting it in a range between 3.5%-3.75%. However, the move carried caution flags about where policy is headed from here and featured “no” votes from three members, which hasn’t happened since September 2019. The 9-3 vote again featured hawkish and dovish dissents – Governor Stephen Miran favored a steeper half-point reduction...

Mortgage rates are expected to decrease by nearly 1% by year’s end — from 6.6% down to as little as 5.75% — according to recent housing...

A sharp drop in mortgage interest rates in December may have kickstarted this year’s spring housing market early. Rates are about a full...