What the Federal Interest Rate Hike Means for You - NBC 7 San Diego
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What the Federal Interest Rate Hike Means for You

Financing a $25,000 new car increases by $3 more a month

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    What the Federal Interest Rate Hike Means for You
    Chip Somodevilla/Getty Images
    The Federal Reserve on Sept. 16, 2008 in Washington, DC.

    The Fed raised interest rates a quarter of a point this afternoon. Here's what it means for your money, NBC News reported.

    Savings: "The 'average' saver won't see much benefit because the 'average' financial institution is unlikely to increase the measly payouts in a meaningful way," said Greg McBride, chief financial analyst for Bankrate.com.

    Credit Cards: You'll pay an extra $40 in interest every year, based on the average credit card debt of $16,000 at current average of 15 percent interest.

    Home Equity Line of Credit (HELOC): A $30,000 line of credit will cost you $75 more in annual interest.

    Sanders: Flake Only Criticizing Trump Because of Low Poll Numbers

    [NATL] Sanders: Flake Only Criticizing Trump Because of Low Poll Numbers

    White House press secretary Sarah Huckabee Sanders said that Senator Jeff Flake's speech on the senate floor was made due to low poll numbers than an actual sincere criticism of President Trump. Sanders also talked about Steve Bannon's lawyer relaying information from the House Intelligence committee's questions to his client directly back to the White House, saying it is "standard procedure."

    (Published Wednesday, Jan. 17, 2018)

    New Car: Financing a $25,000 new set of wheels increases by $3 more a month.

    Mortgages: If you're shopping for a new house, the mortgage could run you an additional $720 a year if all of the Fed's three expected rate hikes go through, according to Bankrate.com.