A fixed mortgage rate is not the federal funds rate
The note rate is a contract. Policy rates are a range. Mixing them makes a payment look like a forecast.
Personal finance editor
A 30-year fixed rate is the interest written on your note. It does not reset when the Federal Reserve holds, hikes, or cuts the funds-rate target.
New quotes can still move because lenders price off longer-term yields and their own spreads. That is a new loan, not a change to the one you already closed.
DontPanic will not tell you whether to refinance. Read the note you have, then model a payment with that rate — not a headline.
Estimates and articles on DontPanic are for general information only. They are not financial, legal, or tax advice, and they are not an offer to buy or sell any product.
Next step
You enter the rate. Snapshot figures have an as-of date.