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Fed holds benchmark rate
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On Oct. 28, 2026, the Federal Reserve held its benchmark interest rate target range at 3.75%–4.00%. In a 10-2 vote, the Federal Open Market Committee (FOMC) maintained a restrictive policy stance.
Inflation remains elevated above the Fed’s 2% target. The Fed signaled it will wait for additional economic data before making further rate adjustments, like the September decision to raise rates for the first time in three years.
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“For housing, today’s hold on monetary policy avoids another increase in the policy rate that influences builder acquisition, development and construction lending costs,” said Robert Dietz, PhD, NAHB Chief Economist and Senior Vice President for Economics and Housing Policy. However, financing conditions remain restrictive for projects already facing high development and construction expenses.
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