Because the U.S. has the world's largest economy, fluctuations in America's interest rates affect much more than domestic growth.

A drop in the inflation rate could prove to be good news for homebuyers and owners hoping to refinance. Here's why.

U.S. President Donald Trump said on Wednesday the next chairman of the U.S. Federal Reserve will be someone who believes in lower interest rates "by a lot."

Thanks to its latest decision on Wednesday – its final one for 2025 – the Federal Reserve has now reduced its key overnight lending rate by 1.75 percentage points since it began its rate-cutting cycle in September 2024.

The average mortgage interest rate on a 30-year mortgage declined to 5.99% on December 17, 2025, according to Zillow. The median interest rate on a 15-year mortgage is 5.37%. With both options under 5% now, buyers may find today's rates low enough to justify re-entering the homebuying market.

The highest money market account rate available today is 4.22% Changes from the Fed or your bank can quickly change money market rates Online banks typically offer the most competitive yields on the market Current Money Market Rates As of today,

Federal Reserve Bank of New York President John Williams said there’s no urgency to further adjust interest rates and recent employment and inflation data did little to change his outlook.

Learn about legal interest rates and their limits, how different states enforce laws, and what excessive rates—usury—mean for borrowers and lenders.