Things feel demanding as families adjust to climbing mortgage rates and persistent inflation.

Today, the financial picture feels demanding as households adjust to elevated borrowing costs. Fannie Mae reported the 30-year mortgage rate climbed to 6.65%, arriving just as the U.S. Bureau of Labor Statistics noted July inflation held at 3.4%. Over on r/FirstTimeHomeBuyer, people are celebrating a couple closing on a home after fifteen years of saving. Despite the tough math, families are finding ways forward.