Mortgage rates are jumping and everyday bills are rising fast, which is bad news for working people and a warning sign for the wider economy.

• Every time rates have climbed this quickly since 1970, a financial crisis has followed — something usually breaks.
• The 30-year mortgage rate jumped above 7.4%, a big move in a short time.
• Oil fell 8% for the week after Iran and Washington held talks at the UN, with Iran offering to reopen the Strait of Hormuz and restart nuclear talks.
• People report home insurance, property taxes, water bills, prescriptions, gas and groceries all rising while paychecks barely move.
• Younger adults say they cannot afford the basics of normal life, and subscription traps like printer ink plans show how companies keep squeezing recurring payments out of customers.

Outlook: With rates high and living costs still climbing, pressure on regular people and on the economy looks set to keep building unless rates fall or a deal with Iran holds.