Mortgage Rates Hold Steady After Fed Rate Hike

Mortgage rates are essentially unchanged to start this week, holding right where they were before last week's Fed rate hike — here's what that means for California buyers.

If you've been watching mortgage rates nervously after last week's Federal Reserve rate hike, here's a bit of good news: rates have barely moved. As of September 21, 2026, the 30-year fixed rate sits at 7.19%, down just a hair from last week. The 15-year fixed holds at 6.83%, and jumbo loans are at 7.35%.

What's keeping rates from climbing further? Falling oil prices are putting modest downward pressure on the bond market, which in turn provides a small cushion for mortgage rates. It's not a dramatic shift, but in today's environment, stability is something to appreciate.

For California homebuyers and investors, this brief window of rate stability matters. If you've been sitting on the fence waiting for rates to drop significantly, understand that the market remains volatile — small improvements can reverse quickly. Locking in a rate during a stable moment like this is often a smarter move than waiting for a big dip that may not come soon.

Whether you're purchasing a home in Southern California, refinancing in the Bay Area, or exploring investment properties, now is a great time to review your options. Contact our team today for a personalized rate quote and let's find the right loan strategy for your situation.