Page 23 - Ben Ayers News Today : Breaking News, Live Updates & Top Stories | Vimarsana

The rate increase will likely make it even costlier to borrow for homes, autos and other purchases.

The Federal Reserve raised its key rate by a quarter point Wednesday, bringing it to the highest level in 15 years as part of an ongoing effort to ease inflation by making borrowing more expensive. The rate increase will likely make it even costlier to borrow for homes, autos and other purchases. But if you have money to save, you’ll probably earn a bit more interest on it. 

<div class="at-above-post addthis_tool" data-url="http://www.metro.us/heres-what-the-fed-interest-rate-hike-means-for-you/"></div>NEW YORK (AP) — The Federal Reserve raised its key rate by a quarter point Wednesday, bringing it to the highest level in 15 years as part of an ongoing effort to ease inflation by making borrowing more expensive. The rate increase will likely make it even costlier to borrow for homes, autos and other […]<!-- AddThis Advanced Settings above via filter on get_the_excerpt --><!-- AddThis Advanced Settings below via fil...

The Federal Reserve raised its key rate by a quarter point, bringing it to the highest level in 15 years. Here’s what to know.

The Federal Reserve raised its key rate by a quarter-point Wednesday, which will likely make it even costlier to borrow for homes, autos and other purchases. But if you have money to save, you'll probably earn a bit more interest on it. Here's how else the rate hike could affect you.