U.S. borrowing costs rise amid increasing energy prices and inflation
Axios · September 13, 2026Original source ↗
What happened
Long-term interest rates in the U.S. have increased significantly, with the yield on the 10-year Treasury note rising to 4.97%. Rising consumer prices, particularly in gasoline, have contributed to expectations that the Federal Reserve will raise its target interest rate.
Why it matters
This situation affects borrowing costs for consumers and businesses, influencing the economy overall.
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 risen to 7.08%, the highest in over a year, which means your monthly payments will be higher than expected. This increase in borrowing costs could make it more difficult for you to afford a home.
How does this story affect you if you drive a vehicle?
Gasoline prices have surged to a national average of $4.29 a gallon, which directly impacts your daily commuting costs and overall budget. Higher fuel prices can strain your finances and reduce disposable income for other expenses.
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