Mortgage lenders and prospective borrowers looking for relief from high interest rates will need to wait longer. In a widely expected decision on Wednesday, the Federal Reserve kept rates steady at a range of 4.25% to 4.5% following its two-day meeting.

This move continues a pause that the Federal Open Market Committee (FOMC) began in January. That came after a series of rate cuts in late 2024 — specifically, a 50 basis-point cut in September and a pair of 25-bps cuts in November and December.

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