Rising Interest Rates and Inflation Impact U.S. Borrowing Costs
Axios · September 13, 2026Original source ↗
What happened
The yield on the 10-year U.S. Treasury note reached 4.97%, a significant increase since February. Concurrently, long-term mortgage rates rose to 7.08%, influenced by rising consumer prices, particularly in gasoline and energy.
Why it matters
These developments indicate that borrowing costs may continue to rise, affecting consumers and the economy.
How this story affects people
How does this story affect you if you are shopping for a mortgage?
You will face higher borrowing costs as the rate on a 30-year fixed-rate mortgage has risen to 7.08%. This increase could make it more difficult to afford a home or refinance an existing mortgage.
How does this story affect you if you drive a vehicle?
You are likely feeling the pinch at the pump, as gasoline prices have surged to a national average of $4.29 a gallon. This rise in fuel costs contributes to overall inflation, impacting your monthly budget.
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