Rising Rates Hit Home Buyers and Renters | Charleston News

Treasury yields are surging to multi-year highs, triggering a wave of higher borrowing costs that’s squeezing homeowners, renters, and car buyers alike. Mortgage rates near their highest in a year mean steeper monthly payments as home prices stay stubbornly high. Renters face even more pressure as developers cut back on new housing due to expensive loans, driving rents up. The Fed is under renewed pressure to fight inflation, possibly raising its benchmark rate again — a move that could slow the economy but make everyday loans harder to afford. While some warn this could ripple into the stock market, experts say the U.S. bond market remains resilient, and short-term swings aren’t cause for panic. Listen in comfort:Get a discount on a Soli Pillow: http://solipillow.com/discount/dnn. Advertise on DNN:[email protected] This is an automated, high-level news summary based on public reporting.Report issues to [email protected]. View sources & latest updates:https://sources.thednn.ai/4d2de979fc9d8979