Fed Holds Rates at 3.50–3.75% as 30-Year Treasury Yield Hits 19-Year High

The Fed kept its benchmark rate at 3.50–3.75% on July 29, 2026 — unchanged for seven straight months. A day later, the 30-year Treasury yield climbed 6.62 basis points (each worth one-hundredth of a percentage point) to 5.2444%, a 19-year peak per Reuters. That gap pressures mortgage rates. The Fed hasn't signaled concern.