How do interest rate changes affect my finances?
The short answer
When rates go up, borrowing costs more: mortgages, car loans, and credit cards. Savers often earn more on cash, CDs, and some annuities. Bond prices can fall. The right move is to ask how each change affects your own plan rather than react to the headline. The headline is not the plan.
Hear Mike discuss it
Reviewed by the 1.oak Financial team · Educational information, not individualized advice. Investment advisory and financial planning services offered through Advisory Alpha, LLC, a Registered Investment Advisor.
