San Francisco Federal Reserve Bank President Mary Daly on Friday said the decision by the U.S. central bank to lower interest rates on Wednesday by another quarter percentage point was a "close call," adding she agreed with Chair Jerome Powell that caution is now warranted toward further policy adjustments.

The Federal Reserve's policymakers announced that they will cut the benchmark federal funds rate by a quarter point in December, marking the central bank's third straight cut.

Here’s how the Fed’s latest move will impact your borrowing costs

The Fed’s 19 policymakers projected that they will cut their benchmark rate by a quarter-point just twice in 2025, down from their previous estimate of four cuts.

These are today's mortgage and refinance rates. Mortgage rates are up in response to new predictions of fewer Fed rate cuts next year.

The Fed has delivered another interest rate cut, but unfortunately for homebuyers, it won't mean imminent relief for mortgage rates. As expected, the Federal Reserve cut its overnight policy rate by 0.

The average 30-year fixed rate mortgage spiked after the Federal Reserve cut rates. Experts say expectations for rate cuts in 2025 fueled the jump.