Fed holds rates steady in split vote Can mortgage rates finally drop soon

A rare 8 to 4 split raises mortgage questions

The US Fed kept interest rates unchanged at its April 29 meeting despite inflation still running above the 2% target. The decision passed in a sharply divided 8–4 vote, the closest split since 1992, signaling uncertainty about future cuts. With attention now on whether the 30-year fixed mortgage rate could fall soon, the next data points may decide homeowners’ prospects.