Mortgage rates are definitely higher today--the highest since January 13th, 2025. Today's Fed announcement had something to do with that. But while the Fed hiked the Fed Funds Rate, that had NOTHING to do with mortgage rates moving higher this afternoon. In fact, this is very easy see on a chart of bond market movement. We can use 10yr Treasuries as a more active proxy for the bonds that underlie mortgage rate movement. The Fed hike was not only almost 100% priced into financial markets, but it had no major impact on bonds when it was announced at 2pm. It wasn't until 2:30pm--when Fed Chair Warsh's press conference began--that rates started having a bad day. A Federal Reserve that's committed to fighting inflation is ultimately a good thing for interest rates in the longer term. The market clearly agreed that it was even a good thing in the short term at first. But when it saw just how committed Warsh was during the press conference, traders adjusted fairly quickly.  Why? Warsh had to option to use the press conference to characterize today's rate hike as some sort of "close call" made out of "abundance of caution" over the inflation outlook. Instead, he said the economy was strong, inflation hadn't made any real progress recently, and that the Fed needed to "remove some accommodation" from the economy. That last part suggests the Fed views current rates as accommodative (i.e. they promote higher prices and economic growth, all else equal). 

September 16, 2026 Download our Mobile App: Download our Mobile App: 30 Yr. Fixed 7.24% +0.02%   5.99% 7.24% 15 Yr. Fixed 6.84% +0.02%   5.55% 6.84% 30 Yr. Jumbo 7.40% +0.02%   6.1% 7.4% Compare Mortgage Rates from Local Lenders for Sep 16, 2026 No, The Fed Didn't Hike Mortgage Rates Today Wed, Sep 16, 2026 6:11PM Mortgage rates are definitely higher today--the highest since January 13th, 2025. Today's Fed announcement had something to do with that. But while the Fed hiked the Fed Funds Rate, that had NOTHING to do with mortgage rates moving higher this afternoon. In fact, this is very easy see on a chart of bond market movement. We can use 10yr Treasuries as a more active proxy for the bonds that underlie mortgage rate movement. The Fed hike was not only almost 100% priced into financial markets, but it had no major impact on bonds when it was announced at 2pm. It wasn't until 2:30pm--when Fed Chair W... (read more) Mortgage News Daily Rate Change Points 30 Yr. Fixed 7.24% +0.02 0.00 15 Yr. Fixed 6.84% +0.02 0.00 30 Yr. FHA 6.82% +0.02 0.00 30 Yr. Jumbo 7.40% +0.02 0.00 7/6 SOFR ARM 6.69% 0.00 0.00 30 Yr. VA 6.84% +0.02 0.00 Updates Daily - Last Update: 9/16 Freddie Mac Rate Change Points 30 Yr. Fixed 6.76% +0.05 0.00 15 Yr. Fixed 6.09% +0.05 0.00 Updates Weekly - Last Update: 9/10 Mortgage Bankers Assoc. 30 Yr. Fixed 6.85% +0.06 0.67 15 Yr. Fixed 6.17% +0.03 0.93 30 Yr. Jumbo 6.74% -0.02 0.63 Updates Weekly - Last Update: 9/9 UMBS 30YR 6.0 99.36 -0.17   99.36 102.75 UMBS 30YR 6.5 101.53 -0.21   101.53 104.00 10 YR Treasury 5.018 +0.017   3.948 5.018 Here's What Changed in The New Fed Announcement Wed, Sep 16, 2026 2:00PM The Federal Open Market Committee approved the following statement for release by a 9 12 – 3 0 vote: The Committee decided to maintain raise the target range for the federal funds rate at 3-1/2 by 1/4 percentage point to 3-3/4 to 4 percent, in support of the Federal Reserve's dual mandate. The Committee is continuing its policy of maintainin... (read more) An Uncommonly Interesting Fed Day Wed, Sep 16, 2026 10:24AM There are perhaps no other Fed announcements in recent memory worthy of more anticipation than the one we'll get today. While some of the recent data could be used to argue patience, far more data suggests a hike. The market agrees based on recent moves in yields and Fed Funds Futures. The question remains as to whether Warsh has a firm conviction in one dir... (read more) MBS Price Change UMBS 5.5 96.90 -0.17 UMBS 6.0 99.36 -0.17 UMBS 6.5 101.53 -0.21 GNMA 5.5 97.46 -0.03 GNMA 6.0 99.72 -0.15 GNMA 6.5 101.73 -0.26 Pricing as of: 9/16 7:07PM EST US Treasury Yield Change 2 YR Treasury 4.736 +0.073 5 YR Treasury 4.880 +0.052 7 YR Treasury 4.951 +0.042 10 YR Treasury 5.018 +0.017 30 YR Treasury 5.363 -0.004 Pricing as of: 9/16 7:07PM EST Other News Hedging, Jumbo, Processing Tools; FEMA and Disaster Updates; Richey May Sold Wed, Sep 16, 2026 11:49AM A while back I was watching the news on TV, and they were interviewing a couple whose home was threatened by a tornado, but who didn’t leave. “God will protect us,” they told the reporter as the wind picked up. Who did they think sent the tornado in the first place? Lenders and servicers know that “tornado alley” has shifted, and with it the geographic range... (read more) Latest Video Federal Reserve unanimously raises federal funds rate by 25 basis points Fed Chairman Warsh: Long term yields have risen due to several reasons July business inventories rises 0.8% while homebuilder sentiment remains ne... Retail sales up 1.2% in August, more than expected Around the Web CNBC Fed approves interest rate hike, signals one more to come this year CNBC Consumers hit by one-two punch of oil and rates from Iran war. The estimated bill is $1,700 per household Eye on Housing Builder Sentiment Falls on Higher Interest Rates and Costs CNBC Mortgage demand from homebuyers drops 19% from a year ago, as interest rates surge abruptly higher CNBC Mortgage credit scores are evolving. What homebuyers need to know Investing Live Atlanta Fed GDPNow estimate for Q3 growth jumps to 5.1% from 4.4% Investing Live Labor share at its lowest level, 52.8 percent, in second quarter 2026 Investing Live US August advance retail sales +1.2% vs +0.8% expected Investing Live September US Empire Fed manufacturing +7.6 vs +15.0 expected CNBC Americans' incomes rose and poverty fell in 2025, Census Bureau says Investing Live US ADP weekly employment estimate rises to 16,250 vs 12,000 expected Investing Live US import and export prices are August 0.7% vs 0.4%. Export prices 0.6% vs 0.5% est. Eye on Housing Single-Family Permitting Declines Through July as Multifamily Activity Remains Stronger

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