The Federal Reserve’s H.15 release dated October 30 showed the effective federal funds rate at 3.88% on each business day from October 23 through October 29. The bank prime rate posted by a majority of large banks stayed at 7.00%, and primary credit stayed at 4.00%.
The same table did not freeze every market rate. The 10-year Treasury constant maturity was 5.00% on October 26, 4.99% on October 27, 5.05% on October 28, and 4.98% on October 29. This publication is a daily rate table. It is not an FOMC decision to hold or raise the policy target.
An existing fixed-rate mortgage or car loan does not reset because the effective funds rate printed 3.88%. A lender can still price new credit from prime or Treasury yields.
Does a 3.88% federal funds reading change the payment on a fixed loan you already have? No. H.15 records market and posted rates. It does not rewrite an existing fixed-rate contract.