Fed Holds Rates Steady as 30-Year Treasury Yield Hits 19-Year High

The Fed kept its benchmark rate at 3.50–3.75% on July 29, 2026 — the seventh straight month unchanged. One day later, the 30-year Treasury yield climbed to 5.2444%, a 19-year peak, per Reuters. A "basis point" is one-hundredth of a percentage point; the 30-year rose 6.62 of them that session. The gap pressures mortgage rates; the Fed hasn't signaled concern.