What are today's mortgage interest rates: September 17, 2026?
The Fed just raised interest rates for the first time since 2023. Here's how mortgage interest rates responded.
On September 17, 2026, the Federal Reserve announced its first interest rate hike in over three years, raising rates between 3.75% and 4.00%. This move aims to combat inflation, which has remained above the Fed's 2% target. The hike could potentially trigger a series of further increases, based on steady unemployment and rising inflation.
Mortgage interest rates have seen a decline in 2025 after reaching their peak since 2000 in 2023. They were below 6% earlier this year before geopolitical tensions and inflation drove them up. Locking in a mortgage rate today might be a prudent choice to shield against potential upward movements.
As of September 17, 2026, the average mortgage interest rate for a 30-year purchase term is 7.37%, while for a 15-year term, it is 6.62%. These figures align with rates from August 2023, following the last Fed rate hike. They are almost two percentage points higher than early March 2026, when the average 30-year rate was 5.75%.
Borrowers with good credit scores, substantial down payments, and flexibility can potentially secure rates below the average. Adding mortgage points to an offer may also help. While refinancing might not be feasible for many homeowners, it could be beneficial for those who can secure a rate half a percentage point lower than their current rate. The decision to buy or refinance should be based on individual financial circumstances and budget, considering the current high rates.
Written by urgent.news from CBS News's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
