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Live pricing · updated 8:32 AM PT 30-yr fixed 6.875% 6.915% APR15-yr fixed 6.250% 6.346% APR Market watchRate outlook: Leaning toward lockingFed holds steady, but two officials vote for a hike and bond yields climbInflation speeds up and growth beats forecasts, adding pressure on mortgage ratesMortgage applications rise for the first time in two months as rates easeMortgage rates hold steady as the Fed opens its two-day meetingMortgage rates start Fed week near a one-month low, with inflation data close behind

Federal Reserve

Fed holds steady, but two officials vote for a hike and bond yields climb

· Enrique Pelayo Jr., NMLS #131435

The Fed left its benchmark rate unchanged Wednesday, as expected, but two voters wanted to raise it. Bond yields moved higher afterward, which tends to pull mortgage rates up with them.

The Federal Reserve kept short-term rates where they were at the end of its two-day meeting. The decision was 10 to 2: Governor Lisa Cook and Cleveland Fed President Beth Hammack dissented because they preferred a quarter-point increase. The statement described the economy as growing at a strong pace and said inflation remains elevated.

Chair Kevin Warsh did not commit to a next move, saying the Fed needs more information before deciding. He also said one meeting in 2027 will be set aside for a review of policy strategy, with no rate decision at that meeting.

Bond investors were not reassured. Treasury yields rose after the meeting, with longer-term yields under the most pressure, as markets weighed strong growth against stubborn inflation. Futures still point to a real chance of a hike at the December meeting.

Our rates today

Lender sheets as of Oct 29, 8:32 AM PT
LoanRateAPRSince yesterday
30-year fixed6.875%6.915%unch.
15-year fixed6.250%6.346%unch.
30-year FHA6.375%6.952%−0.115
30-year VA6.490%6.649%unch.
30-year jumbo6.875%6.898%unch.
5-year ARM6.500%6.552%unch.

Purchase of a $750,000 primary home in King County with 20% down and a 760 credit score (jumbo: $1.8 million with 25% down; VA: eligible veteran, same price and down payment). Lowest rate with no points from today's wholesale lender sheets. Your rate depends on your credit, loan and property. Not a commitment to lend. Price your own scenario

Lean lockToday's take: The Fed held rates Wednesday, but two officials voted for a hike and bond yields rose afterward. See the full view

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Sources: Federal Reserve FOMC statement and implementation note, October 28, 2026; CNBC, October 28, 2026; Reuters analysis, October 29, 2026.

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General market commentary, not a rate quote or commitment to lend. Your rate and terms depend on your credit, loan amount, down payment, property and lender approval, and can change daily. This is a general market view, not advice on whether to lock your rate; talk to us before you lock. Mortgage Lending Group LLC, Company NMLS #1157983. Enrique Pelayo Jr., NMLS #131435. Equal Housing Opportunity.

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Federal ReserveFed decision October 28: a hold is expected, with a December hike still on the tableRates todayMortgage applications rise for the first time in two months as rates easeInflation dataInflation speeds up and growth beats forecasts, adding pressure on mortgage rates
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