Rising Interest Rates Are Affecting Your Finances. Here's How
WHAT IF I WANT TO BUY A CAR?
Many lower-income buyers have already been priced out of the new-vehicle market, according to Caldwell. Automakers have been able to get top dollar for their vehicles because demand is high and supply is low. For more than a year, the industry has been grappling with a shortage of computer chips that has slowed factories worldwide.
Mortgage rates don't always move perfectly in tandem with the Fed increase, instead tracking the expected yield on the 10-year Treasury note. The yield on the 10-year Treasury note has reached nearly 3.6%, its highest level since 2011.
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