Borrowers are feeling the squeeze’ as interest rates climb while inflation remains high

[gdale6]

• The Fed’s moves to fight inflation have made borrowing costlier for consumers.
• Here’s a breakdown of how increases in the benchmark interest rate impacted the rates consumers pay on the most common types of debt.

https://www.cnbc.com/2022/10/27/how-federal-reserve-interest-rate-hikes-impact-your-borrowing-costs....

[pizzadude]

I saw that mortgage interest rates have now topped 7% so it'll be interesting to see how much demand continues to drop.

[805orbust]

I estimate in our neck of the woods, about 70% of the listings we get sent are "price reduced"...  insane.  But of course, the sound of the other shoe dropping always is.

[Anonymous]

Great read!

Now the housing pricing may start to recede, and sense may return to the marketplace. It is hard for buyers and sellers, but we need some reality!

My property went up big dollars and my property taxes took a huge jump!!! Way beyond reality

[FLLGuy]

This AM caught a snipet some news person providing tips how to fight inflation (seems everyone these days has some anti-inflation hack).  Anyhow, I entertained it before I almost pressed away to the next channel.   May god be with me, I wanted to punch my TV screen. 

The person was telling us how to preserve fruits and vegetables in our fridge to extend their shelf life.  For example, put Brocolli in water like a plant, ensure your vegetables are loose to prevent condensation, keep apples in the back of the drawer cold and inside a ziplock.  Then she moved onto "don't couple your fruits and veggies in the cute fruit bowls" as some are notorious accelerating the ripening stage because of their chemicals.  

Please don't get me wrong, i didn't know about the ripening acceleration chemical reaction above the counter but, **bleep** does this have to do with hacking inflation?    Just be honest with the public and rather you say "Folks we're crap outta luck for now and get ready time to ride the wave downward".      Venting here!

[FireMedic1]

And it will affect those with variable APR's on credit cards who are carrying high balances. CC Debt is already up. Guess we'll see more lates, CO's and repo's on the rise also.

[CreditCuriosity]

Rates will continue to rise as well until inflation is under control.  Doubt we will get to the early 80's, but depends how serious we are about getting it under control.  Interesting times we live in.   Gotta pay the piper at some point and that point has come and will get worse before it gets better.  Yes as a result more CO's/CA's/BK and posssibly the housing market and other things will be impacted to different degrees.

[SweetCreditObsession]

Thanks for sharing this!

[gdale6]

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@CreditCuriosity wrote:

Rates will continue to rise as well until inflation is under control.  Doubt we will get to the early 80's, but depends how serious we are about getting it under control.  Interesting times we live in.   Gotta pay the piper at some point and that point has come and will get worse before it gets better.  Yes as a result more CO's/CA's/BK and posssibly the housing market and other things will be impacted to different degrees.

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Interesting to note that big corporate America has told the FED they have no intention of stopping their price increases and that they will continue to do so....

https://www.nytimes.com/2022/11/01/business/economy/fed-rates-company-earnings.html

[uncredited]

If we're going back to the 70's can we at least bring back earth tones and woodgrain?