Fed holds at 3.75–4%, 10–2, with two votes for a hike
The October 28, 2026 FOMC kept the range at 3-3/4 to 4 percent; Cook and Hammack wanted a quarter point more. Next morning: GDP +3.4%, PCE inflation 3.6%.
The 30-year fixed averaged 6.95% in the week to 17 September, up from 6.76% the week before — the day after the Fed raised.
| 30-year fixed | 6.95% |
|---|---|
| 15-year fixed | 6.26% |
| Previous week | 6.76% |
| Fed funds target | 3.75–4.00%, raised on 16 September |
| Why it matters | A 19 basis point weekly move is large for this survey. It landed the day after the Fed's increase, though the survey follows the 10-year Treasury rather than the policy rate. |
The October 28, 2026 FOMC kept the range at 3-3/4 to 4 percent; Cook and Hammack wanted a quarter point more. Next morning: GDP +3.4%, PCE inflation 3.6%.
The year-end Treasury ledger shows receipts up 3.2%, outlays up 5.5% and the deficit up $217.1bn on fiscal 2025. Interest took 19.5¢ of each receipt dollar.
BEA's advance estimate of July–September 2026 GDP is scheduled for October 29. A guide: three estimates, the annualizing formula, what is already known.