The Federal Reserve left rates unchanged at its latest meeting this week, but its aggressive rate-hiking campaign over the past 16 months has left borrowing rates for consumers higher than they have been in years.
Here is a look at where interest rates are hovering for home mortgages, credit cards and auto loans:
Homes under construction in Sacramento, California, US, on Monday, July 3, 2023. The average interest rate for the benchmark 30-year fixed-rate is the highest its been in two decades. (David Paul Morris/Bloomberg via Getty Images / Getty Images)
According to the latest data from Freddie Mac, the average rate for a 30-year, fixed-rate mortgage is 7.18%, the highest level in two decades and more than three points higher than a year ago. Pre-pandemic, the average for the benchmark rate was at 3.9%.
The average credit card interest rate is upwards of 20%. (Robert Nickelsberg/Getty Images / Getty Images)
A report from the Fed released earlier this month shows the average credit card interest rate as of the second quarter was 20.68%, which is more than 5% higher than it was the same quarter in 2022.
A dealer puts up a sign in a used car for sale at a dealership in Richmond, California, US, on Tuesday, Feb. 21, 2023. The Federal Reserve's aggressive campaign to fight inflation is driving up interest rates for borrowing, including on auto loans. (Photographer: David Paul Morris/Bloomberg via Getty Images / Getty Images)
According to a recent report from Market Watch, the latest data from credit scoring agency Experian shows the average auto loan for a new vehicle was 6.63% in the first quarter and for used vehicles, buyers took on average interest rates of 11.38%.
The Fed hinted Wednesday that it could impose another rate hike this year.
FOX Business' Megan Henney contributed to this report.