What a Fed rate hike will mean for your mortgage rate, savings, and credit cards
By Mandi Woodruff
September 15, 2015 2:55 PM
With Federal Reserve officials gathering for a policy meeting this week, speculation as to whether the central bank will finally raise interest rates hasn’t let up. In the scope of the U.S. economy, tinkering with the federal funds rate is a big deal — the higher it goes, the more expensive borrowing becomes. … “When interest rates rise, bonds tend to become less valuable. But investors should keep an eye on their long-term investment strategy rather than fretting over an imminent rate hike,” says Avani Ramnani, director of financial planning and wealth management for Francis Financial.