Quick answer: The federal funds rate is still 3.50%–3.75% after the Fed held at its July 28–29 meeting on a divided 9–3 vote, and the next decision comes September 15–16 with a fresh dot plot. The average 30-year mortgage eased to 6.67% as of August 13. The deadlines worth putting on your calendar now are the September 15 estimated tax payment, the FAFSA opening around October 1, and Medicare Open Enrollment starting October 15.
Key Takeaways
- Federal funds rate unchanged at 3.50%–3.75%; the July vote was a divided 9–3 hold
- Next FOMC decision is September 15–16 and includes a Summary of Economic Projections and dot plot
- 30-year fixed mortgage averaged 6.67% on August 13, down from 6.69%; 15-year averaged 5.96%
- Calendar now: Q3 estimated tax September 15, FAFSA opens around October 1, Medicare Open Enrollment October 15
- Fixed-rate loans do not change with Fed decisions; card APRs follow prime, mortgages follow Treasury yields
Where interest rates stand this week
The Federal Open Market Committee left its target range at 3.50%–3.75% at the July meeting. What made that meeting notable was the split: the vote was 9–3, with three dissents favoring action, which markets read as pressure toward a possible hike at the next meeting. The June Summary of Economic Projections had already shown a divided committee, with nine participants projecting at least one hike in 2026 and eight projecting no change.
The next FOMC decision is September 15–16, and it is one of the four meetings each year that includes a Summary of Economic Projections and the dot plot. Those meetings carry more forward guidance than the others, so if you are timing a refinance, a HELOC, or a large CD purchase, that is the date to watch. Nobody can tell you in advance what the committee will do, and the honest framing is that the range of outcomes is unusually wide right now.
Mortgage rates: what changed this week
| Loan type | This week (Aug 13) | Last week | A year ago |
|---|---|---|---|
| 30-year fixed | 6.67% | 6.69% | 6.58% |
| 15-year fixed | 5.96% | 6.01% | 5.71% |
Both averages drifted down slightly. Freddie Mac’s chief economist noted that affordability has improved from a year ago and that purchase and refinance applications have responded even to modest rate moves. The practical takeaway is unchanged: these are national averages from thousands of applications, and your quote depends on credit score, down payment, loan size, and lender pricing. Freddie Mac’s own research has found that comparing multiple lenders can save more than $1,000 a year, so the single highest-value hour you can spend this week is collecting two or three additional quotes.
Mortgage rates track the 10-year Treasury yield more closely than they track the Fed’s policy rate, which is why they can move in a week when the Fed does nothing. Survey results are published every Thursday at noon Eastern.
Deadlines to put on the calendar now
| Deadline | Date | Who it affects |
|---|---|---|
| Q3 estimated tax payment | September 15, 2026 | Self-employed, freelancers, investors with untaxed income |
| Next FOMC decision (with dot plot) | September 15–16, 2026 | Anyone timing a refinance, HELOC, or CD |
| FAFSA for 2027-28 expected to open | Around October 1, 2026 | Students and parents; state aid is often first-come, first-served |
| Medicare Open Enrollment | October 15 – December 7, 2026 | Anyone on Medicare; plan costs and drug formularies change yearly |
Two of these reward early action rather than on-time action. State and college financial aid money can run out, so filing the FAFSA in the first weeks after it opens matters more than the federal deadline. And Medicare plans change their networks and drug lists every year, so the default of doing nothing during Open Enrollment quietly costs people money. Our step-by-step guides cover how to file the FAFSA and the Medicare enrollment windows.
This week’s explainer: what a divided Fed vote actually means for you
Most coverage of a Fed meeting focuses on whether the rate changed. The vote count and the dissents often matter more for what happens next. A 9–3 vote to hold means three voting members wanted a different decision, and dissents are one of the clearest public signals that the committee’s center of gravity may be shifting.
Here is how that translates to household finances. Savings and CD rates tend to move with expectations, not just with the actual decision, so banks can raise or trim promotional yields before the Fed does anything. Credit card APRs are tied to the prime rate, which moves within about a business day of an actual Fed change, so a hold means no change there this month. Mortgage rates follow Treasury yields and can move either direction regardless. And existing fixed-rate loans do not change at all, which is worth remembering when headlines sound alarming.
Three things worth doing this week
- Check the yield on your cash. If your savings account is paying well below the top of the market, moving it is one of the few financial decisions with no downside risk and no lock-up.
- If you have a variable-rate balance, know your index. Credit cards and HELOCs move with prime; some private student loans move with SOFR. Knowing which one tells you what actually affects you.
- If you owe estimated taxes, schedule the September 15 payment now. The failure-to-pay penalty accrues monthly, and scheduling it early costs nothing.
FAQ
How often does the Fed meet? Eight times a year. The 2026 remaining meetings are September 15–16, October 27–28, and December 8–9, with Summaries of Economic Projections in September and December.
Does a Fed hold mean my credit card rate stays the same? Yes for the policy-driven portion. The prime rate changes within about one business day of an actual Fed move, so no move means no change from that channel.
Where can I see the official rate? The Federal Reserve publishes the H.15 Selected Interest Rates release daily and the FOMC statement on its site.
Why did my mortgage quote change when the Fed did nothing? Mortgage pricing tracks the 10-year Treasury and lender-specific costs, not the fed funds rate directly.
Is this investment advice? No. This is a summary of public data from official sources, published for general information.
Sources
- Federal Reserve: FOMC calendars and statements
- Federal Reserve H.15 Selected Interest Rates
- Freddie Mac Primary Mortgage Market Survey
- IRS: Estimated taxes
- Medicare.gov: When to sign up
Last updated: August 17, 2026. Written by the InfoBrief Editorial team. This is general information, not financial advice. Rates and deadlines change; confirm with the official source before acting. See our disclosure.