Things feel strained as families navigate higher borrowing costs following another interest rate hike.

Today, the financial picture feels strained as the Federal Open Market Committee (FOMC) raised rates to a 3.75% to 4.00% range, with another hike likely by December. Over on r/personalfinance, homeowners are weighing whether to invest extra cash or pay down their mortgages. With borrowing costs climbing, families are carefully adjusting their long-term budgets.