(The Center Square) – The Federal Reserve left interest rates unchanged on Wednesday, a move that offers little relief to homebuyers dealing with mortgage rates close to 7.3% and builder confidence stuck at a 14-year low.
In a 10-2 vote, the Federal Open Market Committee kept its benchmark rate in the 3.75% to 4% range, according to the Fed’s policy statement. Governor Lisa Cook and Cleveland Fed President Beth Hammack dissented, saying they preferred a quarter-point increase. The September decision was unanimous.
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