War with Iran Hikes Borrowing Costs: Mortgages, Cars, Credit Cards
Madison News Today | 2 Min News | The Daily News Now! · The Daily News Now!
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Show Notes
The war with Iran is causing a surge in borrowing costs across America, affecting mortgages, car loans, and credit cards. Mortgage rates have jumped from 5.98% to 6.37%, while auto loan rates are at 7%. Credit card rates remain above 19%. This increase is due to the conflicts impact on global oil prices, which is fueling inflation and keeping rates elevated. The duration of the conflict will determine how long these costs persist, affecting your daily budget.
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