The Federal Reserve increased its short-term interest rate from 2 percent to 2.25 percent Wednesday, the third rate hike to take place this year. ICNY 2020 ICNY2020. Real estate's premier event. Read Next New residential home sales rise in August, reversing 2-month decline New legislation aims to make mortgages easier for gig workers Mortgage rates rise for 4th consecutive week Existing home sales remain steady, ending 4-month slump More in Markets & Economy The Fed signals that interest rates won't change through 2020. Really? Everything is bigger in Texas — including the rent Agents ensnared in 'Newsday' investigation boycott housing discrimination hearing Inman News quiz: Think you're on top of the week's biggest stories?