How did rising interest rates affect Americans? It became cheaper to buy cars and homes. Americans had to pay higher interest on loans. Loan payments dropped greatly over time.
History · High School · Mon Jan 18 2021
Answered on
Rising interest rates mean that Americans had to pay higher interest on their loans. There are many companies, and businesses that offer money load, or product payment with interest rates, thus this is also being affected. For some, they might not take to consider the interest rates in what they are buying, but we must take note that interest rates may add us time, but will cost us a lot of money.
Final answer:
Americans had to pay higer interest on loans.