On September 16, 2026, the Federal Reserve increased the federal funds target range by 25 basis points to 3.75%–4.00%. That is the policy-rate decision—not a quote for an acquisition or refinancing loan. (federalreserve.gov)
Desk application: Refresh lender term sheets and model the actual contractual benchmark, spread, floor, amortization, fees and hedging requirements.
For scale, an illustrative one-percentage-point increase applied for a full year to $5 million of unchanged, unhedged, interest-only principal adds $50,000 of annual interest. That calculation is not a forecast of the next rate move or the cost of any particular loan.