Ryan Byrd

The Fed Just Held Rates at 3.75%–4.00%, but a December Hike Is Still Likely: What Sellers Should Do Now

The Fed held rates at 3.75% to 4.00% on October 28, 2026, but traders still see a December hike as likely. CME FedWatch puts the odds near 76.5%. Freddie Mac’s 30-year mortgage rate is 7.24%, so sellers should plan for rates above 7% and compare every selling option now.

What Did the Fed Decide on October 28?

The Federal Reserve left its benchmark rate at 3.75% to 4.00%, as markets expected, per Mortgage Professional America. Before the meeting, CME FedWatch gave a hold about a 90.6% chance, according to HousingWire. That hold follows a 25-basis-point hike in September, which we covered in The Fed Just Raised Rates for the First Time Since 2023.

A basis point is one-hundredth of a percentage point, so 25 basis points equals 0.25%. The Fed’s own rate is not your mortgage rate, but the two move together over time. Inflation is the pressure point: the September Consumer Price Index ran 3.7% for the year, nearly double the Fed’s 2% target, per Mortgage Professional America.

Where Are Mortgage Rates After the Fed Hold?

Freddie Mac reported the 30-year fixed rate at 7.24% for the week ending October 29, down from 7.32% the week before, per Yahoo Finance. That is the second weekly dip in a row, but still above 7%.

Date	30-year fixed rate	What happened
Oct. 15	7.40% (Freddie Mac)	Mid-October reading; see sell now or wait
Oct. 22	7.32% (Freddie Mac)	First weekly decline since August
Oct. 27	7.38% (HousingWire daily rate)	Down 14 basis points from a week earlier
Oct. 29	7.24% (Freddie Mac)	Second weekly dip after the Fed hold

Sources: Freddie Mac, Real Estate News and HousingWire. HousingWire’s daily rate and Freddie Mac’s weekly average use different methods, so they will not match exactly.

Demand has not bounced back. The Mortgage Bankers Association (MBA) said purchase applications rose 4% for the week but remain 18% below last year, and refinance applications are down more than 60%, per Yahoo Finance. MBA CEO Bob Broeksmit said, “While the improvement is encouraging, elevated borrowing costs continue to limit purchasing power.”

Refer and Earn: Know a homeowner waiting for rates to fall before they sell? Our Refer and Earn program pays you $500 once the sale closes, with no fees and no limit. If they would rather sell now, we make a cash offer within 24 hours. Refer a homeowner.

Will the Fed Raise Rates in December?

Markets say it is more likely than not. CME FedWatch shows a 76.5% chance of a 25-basis-point increase by year end, and Bank of America Global Research expects a December hike, per Mortgage Professional America. First American senior economist Sam Williamson said another hike is “widely expected in December,” per HousingWire.

Those odds are forecasts, not decisions, and they can change with each inflation report. The next Fed announcement in December is the date to watch. Jobs data adds to the picture: payrolls grew by 29,000 and unemployment reached 4.2%, per Mortgage Professional America.

Fitch Ratings’ Eric Orenstein expects mortgage rates to stay above 7% in the near term. Williamson said, “Whether the Fed hikes or holds this month, homebuyers shouldn’t expect a big change in mortgage rates.” Our take: plan around today’s rate, not a hoped-for one.

Should You Sell Before the December Fed Meeting?

It depends on your deadline and your numbers. Waiting costs money when you carry a mortgage, taxes and insurance each month. Selling now costs you only if the price you get is below what you could reasonably expect later, and the data does not point to a quick price rebound.

Option	Best when	Watch out for
Wait until after December	You have no deadline and low carrying costs	A hike could keep rates above 7% into 2027
List with an agent	Your home is move-in ready	Slow demand; see why houses are not selling
Offer a buydown or credits	Buyers like the home but struggle with the payment	Credits come out of your proceeds
Sell for cash, as-is	You need speed, certainty or no repairs	Compare offers and ask how each number is built

The market backdrop supports caution. NAR’s pending home sales index hit a record low of 66.0 in September, as we explain in Pending Home Sales Just Hit an All-Time Low. Prices are not crashing, but real prices are slipping; read Are Home Prices Falling in 2026?.

How Do Higher-for-Longer Rates Affect Sellers?

Fewer buyers. A rate above 7% shrinks what buyers can afford, so fewer offers come in. See It’s Officially a Buyer’s Market.
More deals falling apart. Buyers who lock a rate and then see costs rise can back out. Read A Record 14.5% of Home Deals Are Falling Through.
More cash sales. Cash buyers skip the loan. See why 1 in 4 home sales skip the mortgage.
More financial strain. Owners with adjustable rates or tight budgets feel it first. ATTOM’s August 2026 foreclosure report counted 5,794 completed foreclosures in August, up 42%.

If payments are getting hard, start early. Read what happens after foreclosure, how to sell a house in foreclosure and our foreclosure prevention page. Selling before a sale date protects more of your equity and your credit.

Refer and Earn: Do you know a neighbor, coworker or relative who is falling behind on a mortgage? Our Refer and Earn program pays you $500 once the sale closes, with no fees and no limit. A quick conversation now can protect their equity. Refer a homeowner.

How Does a Cash Sale Work When Rates Are High?

With Byrd and Co, a cash sale typically works like this: you contact us, we review the home as-is, you get a no-obligation cash offer, and we can close in as little as one to two weeks. Because we do not rely on a buyer’s mortgage, rate moves do not change our timeline. Read what a cash offer is and review our services.

Selling in a state with extra costs? See our guides to New Jersey’s mansion tax, Connecticut’s conveyance tax, the Massachusetts millionaires tax and Tennessee’s capital gains rules. Also see our Maryland, Florida and Ohio pages.

Wondering what the Fed hold means for your sale? Talk to the Byrd and Co team, no pressure, just real answers. Get your no-obligation cash offer and compare it with listing.

Frequently Asked Questions About the Fed and Mortgage Rates

Did the Fed raise rates in October 2026?

No. The Fed held its benchmark rate at 3.75% to 4.00% on October 28, 2026, after a 25-basis-point hike in September.

What is the mortgage rate after the Fed meeting?

Freddie Mac reported the 30-year fixed rate at 7.24% for the week ending October 29, 2026, down from 7.32% the week before.

Will the Fed raise rates in December 2026?

Markets think so. CME FedWatch showed about a 76.5% chance of a 25-basis-point hike by year end, though that can change with new inflation data.

Will mortgage rates go down in 2026?

Experts quoted by Mortgage Professional America and HousingWire expect rates to stay above 7% in the near term. Rates have dipped two weeks in a row, but no one can promise a lasting drop.

Should I sell my house before the Fed meets again?

It depends on your deadline, your carrying costs and your local market. Many sellers compare listing with a cash offer so they can decide using real numbers.