Should you lock in a mortgage rate before the April Fed meeting?

MoneyWatch: Managing Your Money Should you lock in a mortgage rate before the April Fed meeting? We may receive commissions from some links to products on this page. Promotions are subject to availability and retailer terms. .chip { background-image: url('/fly/bundles/cbsnewscore/images/chip-bgd/chip-bgd-moneywatch.jpg'); } By Matt Richardson Matt Richardson Sr. Managing Editor, Managing Your Money Matt Richardson is the senior managing editor for the Managing Your Money section for CBSNews.com. He writes and edits content about personal finance ranging from savings to investing to insurance. Read Full Bio Matt Richardson April 15, 2026 / 1:48 PM EDT / CBS News Add CBS News on Google Locking a mortgage interest rate before the Federal Reserve's April meeting can help protect borrowers. Serhii Shleihel/Getty Images In a different economic climate, a looming Federal Reserve meeting would be welcomed warmly by borrowers, especially those looking to buy a home or refinance their existing one. The Federal Reserve, after all, is a big driver behind mortgage interest rates, and rate cuts issued in these meetings have previously resulted in lower mortgage rates, occasionally even by substantial amounts. Mortgage rates plummeted to a multi-year low, for example, last September timed against a Fed rate cut that month. And that same dynamic played out in September 2024, too.But the central bank meeting on April 28 and April 29 will take place in a significantly different economic environment. Inflation just surged to its highest level in years in the most recent report from the Bureau of Labor Statistics. And while unemployment is down again, it had risen in the month prior, and geopolitical tensions and overseas conflicts are leaving the Fed with multiple factors to weigh right now. Against this backdrop, borrowers may be wondering about the benefits of locking in a mortgage rate right now, before the April Fed meeting kicks off. Is that the right move to make, though? B...