30-Year Fixed Rate Mortgage Near 5.8% (Washington, DC) — Mortgage rates aren’t getting any better. Freddie Mac says the 30-year fixed-rate mortgage came out to an average of five-point-seven-eight percent for the week that ended on Thursday. That’s more than half a point above what it was just one week ago. Freddie Mac’s chief economist blaming “a shift in expectations about inflation and the course of monetary policy” for the jump.
Edmunds.com: Financing A Vehicle Hits Record High (Santa Monica, CA) — Financing a vehicle has never been more expensive. Edmunds dot com reports a new car usually has a monthly payment of just over 650-dollars. That’s with an interest rate of just over five-percent and a term of just under six years. The numbers are slightly better for those looking to buy a used car. The average monthly payment comes out to just under 550-dollars, but the interest rate is much higher at over eight-percent.