"I know he’d love to see lower interest ​rates, but he’s got a board, and it’s a political board, ​and they want to keep rates up. Meanwhile, even with rates unchanged, the Federal Reserve’s decision this week could still have an impact on mortgages and the housing market. ET on Thursday, according to CNBC, the 30-year Treasury bond had risen by more than 9 basis points to 5.236 percent. An interest rate hike later this year—as expected by many observers—would be the first one since July 2023. The likelihood of further mortgage rate hikes in the coming months makes locking in a mortgage rate now a good option for those who can afford it.