10/29/2026
The Fed did nothing yesterday, and it was still the most interesting outcome available.
Rates stay at 3.75% to 4.00% — but two voters wanted a hike, inflation was called "elevated" again, and Chair Warsh gave no hint about the next meeting on December 9.
The thing most coverage misses: the Fed doesn't set mortgage rates. Bond markets do, off the 10-year Treasury (near 5% today), which is why the average 30-year fixed sits at 7.24%.
My read: unless the inflation reports before December come in soft, expect mortgage rates to keep grinding in the low-to-mid 7s. If they cool, the high 6s are within reach — $197 a month on a $600,000 loan.
Buying? Don't wait on a Fed rescue. Buy at a payment you can carry today, and keep the refinance door open.
Text or call 808-369-4449 · [email protected] · loanfactory.com/sethaugust
— Seth August, Senior Mortgage Broker, Loan Factory · NMLS #1552226
Averages are national, for education — not a quote or a forecast.
