23-03-2023, 08:07 AM
What will get more expensive with the rate hike
While a 25 basis point change will only slightly increase the cost of loans or debt, the cumulative total of nine straight rate hikes has increased borrowing costs substantially over time. Here’s a look at how interest rates have climbed since January 2022.
Auto financing
Credit cards
Loans
Variable-rate or new loans
https://www.cnbc.com/2023/03/22/fed-anno...oints.html
While a 25 basis point change will only slightly increase the cost of loans or debt, the cumulative total of nine straight rate hikes has increased borrowing costs substantially over time. Here’s a look at how interest rates have climbed since January 2022.
Auto financing
Credit cards
Loans
Variable-rate or new loans
https://www.cnbc.com/2023/03/22/fed-anno...oints.html