What you need to know about the Fed’s interest rate hike

What you need to know about the Fed’s interest rate hike

CHICAGO - The Federal Reserve announced its fourth straight historically large interest rate hike Wednesday.The Fed approved a 0.75 percentage point increase in an effort to slow spending and get inflation under control. 5 key takeaways from the Federal Reserve’s rate hikes WGN News Now spoke to mortgage broker and owner of Molitor Financial Group, Troy Molitor about the move."It's important to remember the Federal Reserve is the bank that l…

What does the latest interest rate hike mean for me?

Interest rates have gone up to 3% which means people, especially mortgage holders, will face higher borrowing costs.

What does the interest rate rise mean for my money?

Today’s news heaped further economic pressure on households (Picture: Shutterstock/TimeShops)The Bank of England has hiked interest rates by 0.75 percentage points, taking the base rate from 2.25 per cent to 3 per cent – the steepest one-day rise in 33 years.It means interest rates are now at their highest in 14 years, pushing up mortgage costs, rents and rates charged on almost all forms of borrowing.The Bank of England’s governor Andrew Bailey…

What do rising interest rates mean for you?

What are interest rates and what does it mean for your finances. How are they worked out and why it changes.

Here's what higher interest rates could mean for your money

The Bank of England has hiked its base rate by 0.75% - adding to the misery for many homeowners

What does the interest rate hike mean for you?

(NewsNation) — For the sixth time this year, the Federal Reserve announced it will raise interest rates in an effort to curb inflation, meaning the cost of borrowing for the everyday American will become more expensive. “The longer the current bout of inflation continues, the greater the chance that expectations of higher inflation become entrenched,” Fed Chair Jerome Powell said. The Fed announced the hike on Wednesday, raising rates by three-q…