Abel Tejeda: How Do Interest Rate Increases Affect Your Pockets?
Abel Tejeda: How Do Interest Rate Increases Affect Your Pockets?
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As you may know, the Federal Reserve raised interest rates by 25 basis points, or 0.25%. How does this affect your pockets? There are a few ways, starting with your credit card(s). Most credit cards have variable interest rates, so as the Federal reserve moves the federal funds rate (or prime rate), more of your monthly payment goes toward interest instead of your principal. To find out what they are, watch my latest video.
http://abeltejeda.blog/how-do-interest-rate-increases-affect-your-pockets.html
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Abel Tejeda
Mortgage Lender, American Mortgage Group
619-948-2996 | 619-419-2371 | abel@abeltejeda.com | www.amgbanking.com | 9350 Waxie Way Suite 200 San Diego CA 92123