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Mortgages Rates – What a Fed Rate Hike Means For You (Get ready to pay more)

The Federal Reserve decision Wednesday, March 15, 2017, to lift its benchmark short-term interest rate by a quarter percentage point is likely to have a domino effect across the economy as it gradually pushes up rates for everything from mortgages and credit card rates to small business loans. Consumers with credit card debt, adjustable-rate mortgages and home equity lines of credit are the most likely to be affected by a rate hike, analysts indicate. It’s the cumulative effect that’s important, especially