07/29/2026
The Federal Reserve again kept its benchmark interest rate frozen on Wednesday, the fifth such pause so far in 2026. But with inflation still comfortably above the central bank's target 2% goal and the potential for that rate to rise even higher on the back of geopolitical tensions and overseas conflicts, the period of Fed rate pauses may soon be ending. And that could mean an interest rate hike – the first one since July 2023 – could be issued when the bank meets again in September.
This is a major concern for millions of borrowers but especially homebuyers and owners looking to refinance. After mortgage rates declined by around a full percentage point in 2025 and a bit further in 2026, much of that improvement has been erased in recent months. If the current trend continues, mortgage rates could soon be back in the 7% range or even higher.
With this dynamic in mind, borrowers hoping to take action will need to be strategic and informed in their approach. And that starts with knowing what this latest Fed rate freeze could actually mean for your options.
Call us today and get started with your home purchase or refinance plans before a possible increase in rates. We will provide you with a personalized quote and exceptional service.
Conveniently located in the heart of Murray, UT, we welcome visitors Monday through Friday from 9:00 a.m. to 5:00 p.m. Stop by today to see what options we have for you.