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August 1, 2022

The Fed has raised interest rates — now what?

  • What last week's interest rate hike means for your finances.
    • By CHRISTOPHER RUGABER
    AP Economics Writer

    iStock image
    Higher interest rates have torpedoed the housing market. If you’re financially able to go ahead with a home purchase, you’re likely to have more choices than you did a few months ago.

    WASHINGTON — Higher mortgage rates have sent home sales tumbling. Credit card rates have grown more burdensome, and so have auto loans. Savers are finally receiving yields that are actually visible, while crypto assets are reeling.


     
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