Definition, Meaning & Synonyms

rates-soar

verb phrase

/reɪts sɔr/

Definition

To experience a rapid and significant increase in rates or prices.

Examples

The housing market has seen rates soar, leading to a surge in home prices.
Due to increased demand for travel, airline ticket prices have rates soar this summer.

Meaning

The term ‘rates-soar’ refers to a phenomenon where rates, such as interest rates, prices, or costs, dramatically rise over a short period of time, often due to high demand or economic conditions.