Will the Fed Interest Rate Hike Impact Your Mortgage?

Now that the Federal Reserve decided to increase the federal interest rate in December, it’s important to know how the recent and future rate hikes will affect your mortgage rates.

Click here to continue reading about the following subjects:

  • Effects of the Fed Hike
  • Existing Fixed-Rate Mortgages
  • Adjustable Rate Mortgages
  • Future Home Buyers
  • Refinancing Your Home

Credit Card Tip: Make sure you understand grace periods

Your credit card’s grace period is the number of days you have to fully pay your bill to avoid finance charges. Typically, though, grace periods only apply to purchases you’ve made and not to other kinds of transactions (e.g., balance transfers and cash advances).


If you’re thinking about refinancing, at least part of your decision should be based on how long you think you’ll stay at your current home. That way, you can figure out whether you’ll recoup the up-front refinancing costs with enough monthly savings at the lower, refinanced rate.