Consumers will feel the impact of Fed hikes in the coming months

credit card interest rates and new car loan rate hikes in the upcoming billing cycle

Borrowers who have adjustable rate mortgages, or who Hoping to sign up for one soon, they can expect a rate hike

The high cost of financing a home is already taking its toll

Inflation is taking away much of their income

Buyers are finding homes less affordable as rising borrowing costs reduce their affordability

A year ago, a buyer who put 20% down on a $390,000 median home

and a 30-year average interest rate of 2.80% Financed the rest with a fixed-rate mortgage

According to Freddie's numbers, his monthly mortgage payment was $1,282 Mac.