EconomyUnited States
Borrowing Costs Climb as Mortgage Rates Hit 3-Year High
Mortgage rates hit a three-year high of 7.40% as the Fed signals more hikes, straining household budgets for homes and cars.
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Mortgage rates hit a three-year high of 7.40% as the Fed signals more hikes, straining household budgets for homes and cars.
The average new car payment hit a record $777 in Q2 2026 as rising prices, high interest rates, and longer loan terms squeeze consumers.