09/17/2026
Yesterday I talked about why the Fed raising rates does not automatically mean mortgage rates will go up.
Today gave us a good example.
The Fed raised its interest rate by 0.25% yesterday.
Mortgage rates went up at first. Today, they came back down a little.
Mortgage News Daily reported the average 30 year rate at 7.24% yesterday. Today it is 7.19%.
So how can that happen?
The Fed does not directly control mortgage rates.
Mortgage rates are affected more by the bond market. When investors become worried about inflation, oil prices or the economy, bond rates can move. Mortgage rates often move with them.
That is why mortgage rates can go up one day and come back down the next.
For anyone thinking about buying a home in Spring or The Woodlands, I wouldnโt try to guess the perfect day to buy.
Find out what your payment would be today.
If the home and payment comfortably fit your budget, then you have something worth considering.
If they donโt, waiting may make more sense.
Rates will change. Your budget is what matters most.