The Fed Just Hiked Rates to 3.75%–4% — First Increase Since 2023 — and Mortgage Rates Are Following
On September 16, 2026, the Federal Reserve raised its benchmark interest rate by a quarter point, to a target range of 3.75%–4.00% — the first rate hike since 2023, and a reversal of the cutting cycle we’d all gotten used to. The vote was unanimous, 12-0. Why the Fed moved. The Committee’s own statement told…