WASHINGTON (AP) — The Federal Reserve is expected to cut short-term rates in 2026, with its key interest rate settling at 3.4% towards the end of President Donald Trump 's term in office in 2028, according to a new report released Thursday by the nonpartisan Congressional Budget Office.

The president's latest affordability push sent 15- and 30-year mortgage rates tumbling. But experts say the long-term impact may be limited.

Homebuyers hoping for mortgage rates to come down significantly will likely be disappointed again next year, experts say.

The rate on a 30-year fixed refinance dropped to 6.22% today, according to the Mortgage Research Center. The 15-year, fixed-rate refinance mortgage average rate is 5.3%. For 20-year mortgage refinances,

President Donald Trump said on Wednesday that "we'll have a straight, simple tariff of anywhere between 15% and 50%." Hiking the baseline reciprocal tariff rate to 15 percent means a 50 percent higher tax on American manufacturers and consumers than Trump ...

As mortgage rates surge, securing a lower rate may seem out of reach—especially in the 5 percent range. Fortunately, there are a few options for homebuyers looking to eke out a favorable rate. The average rate for a 30-year mortgage reached a six-month ...