Fed Meeting Schedule 2027: Dates and What They Mean for Your Rates

6 min read · LenderMatch Learn

The Federal Reserve’s rate-setting committee has eight meetings scheduled for 2027, starting January 26-27 and ending December 7-8, 2027. Before then, one 2026 meeting remains, on December 8-9, and the federal funds target range stands at 3.75% to 4.00% after the Fed held it on October 28, 2026.

Below are all the dates, what happened at the last two meetings, and how a Fed decision reaches your HELOC rate (quickly) and your mortgage rate (indirectly). If you are weighing a HELOC or a refinance around these dates, LenderMatch lets you compare offers from several lenders at once.

Updated October 30, 2026, after the October 27-28 meeting. We update this page after every Fed meeting and whenever the Fed confirms or changes a date.

Fed meeting dates 2027

The Federal Open Market Committee (FOMC) published its tentative 2027 schedule on September 5, 2025. Each meeting runs two days, a Tuesday and a Wednesday, and the decision comes out on the Wednesday. In 2026, the Fed released each statement at 2:00 p.m. Eastern time.

Source: Federal Reserve, FOMC meeting calendars (page updated October 28, 2026). “Each meeting date is tentative until confirmed at the meeting immediately preceding it.” The first 2028 meeting is scheduled for January 25-26, 2028.

“Projections” means the Summary of Economic Projections, where each policymaker writes down where they expect the federal funds rate, inflation, unemployment and growth to be at the end of each year. The rate projections are often called the “dot plot.” At those four meetings you learn where the committee thinks rates are headed, in addition to what it decided that day.

Next Fed meeting: December 8-9, 2026

The last meeting of 2026 is December 8-9, with the decision on Wednesday, December 9, and a new set of projections. A few things to know going in:

• The range is 3.75% to 4.00%. The effective federal funds rate was 3.88% on October 29, 2026.
• Two members wanted a hike in October. Lisa Cook and Beth Hammack dissented from the October 28 hold, both preferring a quarter-point increase.
• The September projections pointed higher. The median projection for the end of 2026 was 4.1%. Projections are the midpoint of the target range, so that matches a 4.00% to 4.25% range, one quarter point above today (our reading of the Fed’s table).
• One industry forecast expects a hike. The Mortgage Bankers Association’s chief economist said in October that he expects two more quarter-point increases: one in December 2026 and one in the first quarter of 2027.

None of this decides the outcome. The October statement said more information will help the committee decide its next step.

Recent Fed decisions

The September increase was the Fed’s first since July 2023. Its statement said “Inflation remains elevated,” and consumer prices rose 3.7% in the 12 months ending September 2026 (Bureau of Labor Statistics), against the Fed’s 2% goal.

How a Fed decision affects HELOC rates

A variable-rate HELOC usually charges the prime rate plus a margin set when you open the line. Prime follows the Fed closely. On the Federal Reserve’s H.15 data, prime moved from 6.75% to 7.00% on September 17, 2026, the day after the September increase. Today it sits exactly 3 points above the top of the Fed’s range (4.00% + 3.00% = 7.00%).

Your HELOC rate then changes on the schedule in your agreement. Federal rules (Regulation Z) require the lender to tell you how often the rate can change, in the disclosures you get with the application. Two published examples from credit unions:

• One ties HELOC rate adjustments to the first business day of each monthly billing cycle.
• Another says a prime change in May takes effect for June and shows on your July bill, because HELOC interest is paid in arrears.

So a Fed move typically reaches your rate within one billing cycle, and your bill a cycle after that.

Example. You owe $50,000 on a HELOC at prime plus 1 point, which is 8.00% today. Interest-only, that is $333.33 a month. If the Fed raises its range by a quarter point in December and prime follows to 7.25% (our arithmetic, using today’s 3-point gap), your rate becomes 8.25% and the payment $343.75, about $10.42 more a month. A cut of the same size would save the same amount.

Calculated by LenderMatch: interest-only payment = balance × rate ÷ 12. The 7.25% prime is a hypothetical, not a forecast.

Track the daily number on our prime rate page, compare current HELOC pricing on HELOC rates today, and see how caps, floors and margins work in variable-rate HELOCs.

How a Fed decision affects mortgage rates

Indirectly. The Fed sets an overnight rate between banks, while a 30-year fixed mortgage is priced against long-term bond yields. Atlanta Fed researchers wrote in November 2025 that over the past 20 years mortgage rates have been more closely tied to the 10-year Treasury yield than to the federal funds rate.

You can see this in 2026. Freddie Mac’s 30-year average was 6.76% on September 10, before the hike, and 6.95% on September 17, after it. Then it kept climbing with no Fed meeting in between, to 7.40% on October 8. After the October 28 hold, the average for the week of October 29 was 7.24%. The 10-year Treasury yield was 4.98% on October 29.

Two things follow for borrowers. A fixed-rate mortgage you already have doesn’t change when the Fed moves. And for a new mortgage or refinance, the 10-year Treasury yield and the weekly Freddie Mac average tell you more about where your rate is headed than any single Fed decision. For the latest forecasts, see our mortgage rate forecast for 2027.

Frequently asked questions

When is the next Fed meeting?

December 8 and 9, 2026. The decision is due on Wednesday, December 9, along with new economic projections. The first meeting of 2027 is January 26 and 27.

How many times does the Fed meet in 2027?

Eight scheduled times: January 26-27, March 16-17, April 27-28, June 8-9, July 27-28, September 14-15, October 26-27 and December 7-8. The March, June, September and December meetings come with economic projections. Each date is tentative until confirmed at the meeting before it.

What time is the Fed announcement?

The Fed released its 2026 policy statements at 2:00 p.m. Eastern time on the second day of each meeting. Every 2027 meeting ends on a Wednesday.

What is the federal funds rate right now?

The target range is 3.75% to 4.00%, set on September 16, 2026, and held on October 28, 2026. The effective rate was 3.88% on October 29, 2026, and the prime rate was 7.00%.

Does a Fed rate hike raise my HELOC rate?

Usually, if your HELOC is variable and tied to prime. Prime has moved the day after Fed changes, and your rate follows on the adjustment date in your agreement, often the start of the next billing cycle. On a $50,000 interest-only balance, a quarter-point increase adds about $10.42 a month.

Does a Fed hike raise my fixed mortgage rate?

No. The rate on a fixed-rate mortgage you already have does not change. A Fed decision can affect the rate on a new mortgage or refinance, but only indirectly, through longer-term bond yields.

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