The Federal Reserve made another emergency cut to interest rates on Sunday, slashing the federal funds rate by 1.00 percent to a range of 0-0.25 percent. The Fed is trying to stay ahead of disruptions and economic slowdown caused by the rapidly spreading coronavirus. ... That keeps money flowing through the economy.

Are interest rates going up in 2021?

It is becoming more likely that rates will increase this year with the Bank of England expects inflation to head above 4% by the end of 2021.

Did interest rates drop today?

Current mortgage rates are lower today, with the 30-year mortgage rate dropping 0.02 percentage points from last week. The 15-year rate also moved lower. The current rate for a 30-year fixed-rate mortgage is 2.99% with 0.7 points paid, down 0.02 percentage points week-over-week.