What the Fed rate pause may mean for mortgage interest rates

MoneyWatch: Managing Your Money What the Fed rate pause may mean for mortgage interest rates We may receive commissions from some links to products on this page. Promotions are subject to availability and retailer terms. .chip { background-image: url('/fly/bundles/cbsnewscore/images/chip-bgd/chip-bgd-moneywatch.jpg'); } By Matt Richardson Matt Richardson Sr. Managing Editor, Managing Your Money Matt Richardson is the senior managing editor for the Managing Your Money section for CBSNews.com. He writes and edits content about personal finance ranging from savings to investing to insurance. Read Full Bio Matt Richardson Updated on: April 29, 2026 / 2:05 PM EDT / CBS News Add CBS News on Google The Federal Reserve's latest interest rate pause could impact homebuyers and owners trying to refinance. sakchai vongsasiripat/Getty Images Another Federal Reserve meeting, another interest rate pause. For the third time this year, the central bank elected to keep its Federal funds rate untouched, leaving it at the same range of 3.50% to 3.75% on Wednesday. That all but ensures that interest rates offered by lenders will remain elevated. Or, put another way, savers will continue to benefit from bigger returns on their funds while borrowers will still need to contend with higher costs. And that will remain a problem for homebuyers and owners hoping to refinance their existing homes.At the same time, a pause is still better than another interest rate hike, especially considering the recent surge in inflation that caused that rate to reach a multi-year high. Borrowers will just need to be a bit more strategic in their approach, and that begins with understanding what this latest Fed rate pause may potentially mean for mortgage interest rates. Below, we'll outline three things these borrowers need to know to make an informed decision on their next steps.Start by seeing how low your current mortgage rate offers are here.What the Fed rate pause may mean for mortgage interest ratesWhil...