Fed Keeps Interest Rates At .25%

Interest rates will stay at at a low low .25%, the Fed announced today. For you this means…

…mortgages will stay cheap, provided you have the stellar credit needed to get one, and savings accounts will continue to generate low, but safe, returns. They also said rates will stay low for an “extended period.” Growth may be picking up, but unemployment remains high. August home sales fell, too, for the first time in four months. It seems the slog to economic recovery will be anything but short.

Fed Signals Growth Return Not Enough to End Stimulus [Bloomberg] (Photo: frankieleon)