Fed Raises Rate to 15-Year High

The Federal Open Market Committee, as expected, raised the federal funds rate by 75 basis points on Wednesday to its highest level since 2008.

Inflation Hitting Millennial, Gen Z Renters Harder than Others

Millennials who took on a new rental lease in July saw their overall cost of goods and services increase 11.6% year over year, substantially higher than 8.5% for the U.S. population as a whole, said Redfin, Seattle.

July Consumer Prices Stabilize; Rise 8.5% Annually

The Consumer Price Index, a closely watched measure of inflation, was unchanged in July on a seasonally adjusted basis after rising 1.3 percent in June, the Bureau of Labor Statistics reported Wednesday. Over the past 12 months, the all-items index increased by 8.5 percent before seasonal adjustment.

Rising Inflation Impacting Non-Prime Borrowers Most

As rapidly rising gasoline, energy and utility prices drive inflation, non-prime borrowers with the riskiest credit profiles have generally experienced the greatest impact to their wallets, reported TransUnion, Chicago.

MBA Chart of the Week Mar. 18 2022: Consumer Inflation Expectations

Inflation as measured by the Consumer Price Index reached an annual rate of nearly 8% in February. Over the past 12 months, inflation has increased steadily from less than 2% to 7.9%, compared to an average just under 2% in the five years prior.