Rising Interest Rates Impact Borrowing Costs in the U.S.
Axios · September 13, 2026Original source ↗
What happened
The yield on the benchmark 10-year U.S. Treasury note rose to 4.97%, and the rate on a 30-year mortgage reached 7.08%. Inflation pressures, particularly in energy prices, are contributing to these increases.
Why it matters
This rise in borrowing costs may affect consumer spending and economic growth.
How this story affects people
How does this story affect you if you are shopping for a mortgage?
The rate on a 30-year fixed-rate mortgage has reached 7.08%, making home loans significantly more expensive. This increase in borrowing costs could limit your purchasing power and affect your ability to buy a home.
How does this story affect you if you drive a car?
Gasoline prices have surged to a national average of $4.29 a gallon, contributing to rising consumer prices. This increase in fuel costs can strain your budget and impact your overall spending.
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