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Federal Rate Hike Is Hiking Mortgage Rates, Keeping Buyers Hesitant

Bankrate says the average 30-year fixed loan is 7.06%, and Fannie Mae expects rates to keep rising after the Fed’s September move.

Summary by WFMZ
There is one potential benefit to higher rates: they are helping to keep home prices from rising as quickly as they have in past years.

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Following the Federal Reserve's announcement this Wednesday of a 25 basis point interest rate hike, its impact has already been reflected in the daily finances of Americans: credit card interest rates have risen accordingly, 30-year mortgage rates are approaching 7%, a 19-month high, while those who prefer high-interest savings can expect better returns. The interest rate hike has resulted in a mixed bag of outcomes.

·New York, United States
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Wall Street Journal broke the news in New York, United States on Thursday, September 17, 2026.
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