The Short Answer

The Federal Reserve’s next rate decision lands Wednesday, October 28, 2026, at 2:00 p.m. ET, following a two-day meeting that starts October 27. A press conference follows at 2:30 p.m. Unlike the September meeting, October will not include an updated Summary of Economic Projections or new dot plot, so markets will be watching both the statement and the Fed’s comments closely. After raising rates on September 16 for the first time since 2023, the Fed left the path ahead open, making the October meeting especially important for markets watching what comes next.

Why This Meeting Is Different

The October meeting comes six weeks after the Fed raised its benchmark rate by a quarter point on September 16. Because there will be no new economic projections this time, markets will be focused on the wording of the statement and the Fed’s comments for clues about what could come next.

What Happened Last Time

On September 16, the Fed raised its benchmark rate by a quarter point for the first time since 2023. Its updated projections showed policymakers remained divided on the appropriate path for rates through year-end. Mortgage rates moved higher in the weeks that followed, though the rate available to any individual Triad buyer depends on factors including credit profile and loan program.

What Doesn't Change Regardless of the Outcome

Whatever the Fed decides on October 28, two things stay true for Triad buyers. First, regional housing inventory has been rising, giving buyers more selection and negotiating room than in recent years. Second, the rate you're offered depends on more than the Fed. Your credit profile, down payment, and loan program all play a role, which is why the same Fed decision can mean different rates for different buyers.

What to Do Before October 28

If you're already under contract, talk with Ashley or anyone on The Sharpe Team about whether locking before the meeting makes sense for your situation. A rate lock can protect your agreed-upon rate from market increases during the lock period, subject to the terms of the lock. If you're actively shopping, get your file far enough along that a rate lock is realistic. If you're just starting to think about buying, use the weeks before the decision to get pre-approved so you know your real numbers, whichever way rates move.

Quick Answers

When is the Fed's next rate decision?
Wednesday, October 28, 2026, at 2:00 p.m. ET, following a meeting that begins October 27.

Will the Fed raise rates again in October?
It’s genuinely uncertain. After September’s hike, policymakers left the path ahead open, and no October move had been confirmed at the time of this post. Markets will be watching closely for whether the Fed holds rates steady or changes policy again.

Does a Fed Hike Mean Higher Mortgage Rates?
Not directly. The Fed sets a short-term rate that banks charge each other overnight. Mortgage rates follow longer-term Treasury yields, which respond to inflation, the economy, and what investors expect the Fed to do next. That's why mortgage rates can move before a Fed decision, or even in the opposite direction.

Will the October meeting include new economic projections?
No. The October meeting includes a statement and press conference, but it is not one of the Fed’s scheduled Summary of Economic Projections meetings.

Should I wait to buy until after the Fed's decision?
Waiting to see what the Fed does does not guarantee a better outcome, and it can mean losing out on a home you actually want. If you're already under contract or close to making an offer, talk with Ashley or a member of The Sharpe Team about your options.

Now is the time to get your numbers in place. Call or text (336) 575-9448 and let’s talk about whether locking before the October 28 Fed decision makes sense for you.