Members of the central bank’s Monetary Policy Committee voted 7-2 to hold, with the latter favoring a cut. In the prior meeting only one member voted for a cut.
As consumers reduce their restaurant spending, Applebee’s and IHOP are fighting against a larger group of rivals than usual for a smaller pool of customers.
The rate for Federal Housing Administration loans fell below 7% for the first time in three weeks — a welcome sign for first-time buyers, who tend to use FHA loans.