CREDIT CARD rates are closely linked to the Fed’s actions, so consumers with revolving debt can expect to see those rates rise, usually within one or two billing cycles.
CAR LOANS are also expected to climb.
Whether the rate increase will affect your STUDENT LOAN payments depends on the type of loan you have.
Rates on 30-year fixed MORTGAGES don’t move in tandem with the Fed’s benchmark rate, but instead track the yield on 10-year Treasury bonds, which are influenced by a variety of factors, including expectations around inflation, the Fed’s actions, and how investors react to all of it.
So, when it comes to mortgages we need to look more into inflation numbers. Actually, this past month, rates went down a little bit.
To read more about this article from the New York Times, go here
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