09/17/2026
The Fed just raised interest rates for the first time since 2023, bumping its benchmark rate a quarter point to a range of 3.75% to 4%. The reason? Inflation is still running above their 2% target, even though the job market has held steady.
Here’s what that means for you: the Fed doesn’t set mortgage rates directly, but moves like this tend to put upward pressure on borrowing costs. If you’ve been waiting on the sidelines, hoping rates would drop, this is a good reminder that trying to time mortgage rates is not a good strategy, having a plan is.
If you’re house hunting right now, this is the moment to get preapproved and lock in clarity on a rate.
