The Fed left interest rates unchanged in October 2026 after an increase in the September 2026 meeting.
This was the fourth meeting with the new Federal Reserve chair, Kevin Warsh. This was a mostly-expected pause in rates after a raise in rates in September 2026 Federal Reserve Meeting. The rates had been paused in the July 2026 Federal Reserve Meeting, June 2026 Federal Reserve Meeting, April 2026 Federal Reserve Meeting , March 2026 Federal Reserve Meeting, and January 2026 Federal Reserve Meeting.
With inflation still elevated, the uncertainty of the economic impact of the war in Iran, high oil prices, the Fed was divided on the vote. The majority decided to hold off to see what happens after the November 3rd election and whether that results will affect the war.
Thank you to USA Today for their coverage of the Federal Reserve meeting.
In terms of mortgage interest rates, they are determined by many factors. The Fed’s decisions on interest rate hikes or cuts can be one of those factors, but it is generally a small part. Lenders that I work with say that mortgage companies generally anticipate when the Fed will raise or drop rates, so mortgage rates and terms often already reflect any potential upcoming pause, hike or cut prior to an official Fed meeting announcement.
If you are considering buying a home in Towson, Timonium, and the Greater Baltimore area, please contact me. I could connect you with a local trusted mortgage professional who can help to guide you through your mortgage options as your buy your new Baltimore home with me!
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