07/30/2026
The Fed did NOT raise rates yesterday.
But mortgage rates still went up.
Why?
The Fed kept its rate the same, but three members wanted to raise it because inflation is still too high.
That worried the market.
Basically, the Fed is saying rate cuts probably are not coming anytime soon, and rates could even go higher if inflation does not improve.
The Fed does not directly control mortgage rates.
Mortgage rates follow the bond market, inflation, oil prices, and economic reports.
So even though the Fed did nothing, the bond market reacted and mortgage rates moved higher.
Rates can still come back down if inflation improves, oil prices settle down, or the economy starts slowing.
For now, do not try to perfectly time the market.
Focus on buying a home that fits your budget today.
You can refinance later if rates improve.
But you cannot go back and buy the house you loved after someone else gets it.
