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and fed chairman jerome powell says there could be more coming. inflation has obviously surprised to the upside over the past year and further surprises could be in store. we therefore will need to be nimble in responsing to incoming data. analysts say this means higher borrowing costs for many americans. going to make getting a mortgage more expensiexpensive, payments, et cetera. so those pressures, particularly for people that have any debt at all, are going to rise. rising interest rates have already been jacking up the cost of our mortgages for months. in the week ending july 21st, the rate for a 30-year fixed rate mortgage in the u.s. averaged 5.54%. last year at the same time, it was under 3%. analysts say the effects of this latest rate hike on homeowners or prospective home buyers could be mixed. one expert says those people may not feel the pinch immediately because many banks had already figured these latest interest rate hikes into the rates they

Fed chairmanWhit americansBorrowing costsEt ceteraU sInterest ratesFixed rate mortgageA25 54July 21stRate hikeInterest rate hikes