Why Mortgage Rates Have Gone Up in 2026 | Placer County Real Estate
Posted by Patrick Hake on
If you've been waiting for mortgage rates to come down before buying or selling a home, the last six months have probably been frustrating.
On February 23, the national average for a 30-year mortgage briefly fell below 6%, reaching 5.99%.
As of September 3, that average has climbed to 6.88%.
So, what happened? And perhaps more importantly for buyers and sellers in Placer County, what could cause mortgage rates to move up or down from here?
The Fed Doesn't Directly Control Mortgage Rates
This is probably one of the biggest misconceptions about interest rates.
Since February, the Federal Reserve has met four times and has not raised its short-term interest rate once. It kept rates unchanged at every meeting.
Yet during that same…
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