Today's Financial Rates

What today's numbers mean

Gas averages $4.354 a gallon today, the cost many households feel most often at the pump. Oil, the main ingredient in gasoline, is trading at $96.24 a barrel, so pump prices can change as crude moves. Unemployment stands at 4.2%, a figure that helps show how the job market is holding up.

Mortgage rates rose slightly this week. The 30-year fixed rate is 7.4%, up from 7.28% a week ago. On a typical $400,000 loan, that small change adds about $32 a month to principal and interest, bringing the payment to roughly $2,769 instead of $2,737. The 15-year fixed rate is 6.73%, which usually means a higher monthly payment but less total interest paid over the life of the loan.

Inflation is 3.35% over the past year, and core inflation, which leaves out volatile food and energy prices, is 2.45%. When savings accounts pay less than inflation, your money loses buying power, so it pays to compare savings rates. The Federal Reserve's benchmark rate, which influences many bank rates, is 3.88%, a useful reference point when shopping for a savings account.

I took the $32 monthly change and the $2,769 and $2,737 payments from a standard 30-year, principal-and-interest calculation, not from your list. They're the only numbers in the summary that aren't in your figures. If you want a strict no-new-numbers rule, I can drop them and describe the change without dollar amounts. The summary is 186 words.