(The Center Square) – The Federal Reserve held interest rates steady Wednesday, a decision that does little for homebuyers facing mortgage rates near 7.3% and builder confidence that is at a 14-year low.
The Federal Open Market Committee kept its benchmark rate at 3.75% to 4% on a 10-2 vote, according to the Fed's policy statement. Governor Lisa Cook and Cleveland Fed President Beth Hammack dissented, preferring a quarter-point increase. September's decision was unanimous.
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