09/16/2026
🏡 The Fed raised interest rates today… so what does that actually mean if you’re thinking about buying a home?
First: don’t panic. 😉 A Fed rate hike does not mean mortgage rates automatically increase by the same amount.
The Federal Reserve raised its benchmark rate by 0.25% today, the first increase since 2023. While the Fed’s decisions can influence the overall borrowing environment, mortgage rates are affected by several factors and can move differently than the Fed rate.
So what does this mean for buyers?
🔑 Don’t put your home search on hold waiting for the “perfect” rate. No one knows exactly where mortgage rates will go next.
🏠 Pay attention to the whole market, not just the interest rate. Depending on the home and situation, buyers may have opportunities to negotiate on price, closing costs, repairs or even a seller-paid rate buydown.
💰 Talk to a lender before assuming you can’t afford to buy. Your rate and payment depend on your loan program, credit, down payment and other factors, not simply the number you see in the headlines.
📉 And remember: the rate you buy at doesn’t necessarily have to be the rate you keep forever. If rates improve down the road, refinancing may be an option. But you can’t go back and buy the house you loved after someone else bought it.
The better question isn’t always “What are rates doing?”
It’s “Does buying a home make sense for ME right now?”
That’s a conversation I’m always happy to have, no pressure, just real numbers and a look at what’s happening in our local market.
📲 Thinking about buying in the Bismarck-Mandan area? Let’s talk about what today’s market actually looks like for you.
Shawna Hastings, REALTOR®
Realty ONE Group Encore
https://abcnews.com/Business/federal-reserve-expected-raise-interest-rates-time-2023/story?id=136457761
