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Credit Cards, Auto Loans and Mortgage rates are going UP

Your FICO® Scores can impact your loan interest rates, terms, approvals and more.
Senior Contributor

Credit Cards, Auto Loans and Mortgage rates are going UP

Fed just announced a .25 percent increase in "cost of funds" this afternoon - watch credit cards and auto loan APR's to increase at least 1/4 % at once, Mortgages will follow although they are influenced by other factors too and have been increasing already.  The Fed has signaled 2 to 3 additional increases for 2017 - credit is going to get more expensive real soon. I can make a case for rates going up or down, but I'll leave that for another day Smiley Wink

 

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Moderator Emeritus

Re: Credit Cards, Auto Loans and Mortgage rates are going UP

I was worried about a .50 or worse interest rate hike, I'm breathing a sigh of relief honestly: think everyone who pays attention to this sort of thing knew it was coming.

 

I'm not too concerned with rates going up, I worry much more about how quickly they'll go up.  Kudos to Janet and gang for the baby step!




        
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