Mortgage rates near 7% and gas near 2022 highs
Report says mortgage rates closed near 7% and gas prices were near their highest levels since 2022, after a Fed interest-rate hike for the first time in three years.
Mortgage rates are close to 7%. Gas prices are near their highest levels since 2022. The Federal Reserve has raised interest rates for the first time in three years. The move means that everything from buying a house to filling up a gas tank now costs more than a week ago, putting a strain on households.