If you're here looking for lower mortgage interest rates, today is definitely not your day.

The average interest rate on a 30-year, fixed-rate mortgage jumped to 7.32% APR, according to rates provided to NerdWallet by Zillow. This is 22 basis points higher than yesterday and 24 basis points higher than a week ago. (See our chart below for more specifics.) A basis point is one one-hundredth of a percentage point.

This comes after the Federal Reserve announced central bankers’ decision to hold the federal funds rate steady yesterday. While the Fed doesn’t directly set mortgage rates, the federal funds rate is one factor that moves them. Last month, when markets began pricing in a possible federal funds rate increase, mortgage rates spiked.

The next Fed meeting isn’t until December, so any rate movement in the next week will likely stem from other factors, like the upcoming jobs report.…