What rising rates this year may mean to your finances

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Investors are losing faith in the Trump rally, and many people are anticipating more declines to come. The Fed said it’s going to raise rates three times next year and each rate hike is expected to drive more investors out of the stock market and into safer and better-yielding US Treasuries. This could make a big difference in your finances.

Key Takeaways:

  • The Federal Reserve announced Wednesday it would leave interest rates unchanged, though it still forecasts three hikes later in 2017.
  • The Fed moves could increase the cost of your debt and limit your access to credit.
  • You can prepare for those rises now by reducing your debt, grabbing low-rate offers and changing the terms of your loans.

“The Federal Reserve announced Wednesday it would leave interest rates unchanged, though it still forecasts three hikes later in 2017. The Fed moves could increase the cost of your debt and limit your access to credit.”

http://www.cnbc.com/2017/02/04/what-rising-rates-this-year-may-mean-to-your-finances.html

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