Here We Go! Fed Hikes Interest Rates

[Weatherman2020]

Buckle up, it’s going to be long expensive ride

Dow turns negative, Treasury yield curve flattens after Fed delivers quarter-point rate hike — MarketWatch

 

[pknopp]

Rates should have rose a dozen years ago. Funny how everyone believes money should be free and that there is no cost for that.

 

[Weatherman2020]

Rates should have rose a dozen years ago. Funny how everyone believes money should be free and that there is no cost for that.

I’m going to enjoy watching millennials pay 29% on their credit cards and 16% on home loans.

 

[Woodznutz]

I wonder if interest rates will also rise on savings and investments?

 

[Weatherman2020]

I wonder if interest rates will also rise on savings and investments?

Yeah, you’ll get 1.2% at the bank that’s charging 28% for their Visa card.

 

[pknopp]

I’m going to enjoy watching millennials pay 29% on their credit cards and 16% on home loans.

We are a long, long, long ways from that but if you want to hold your breath waiting for that.

 

[Weatherman2020]

We are a long, long, long ways from that but if you want to hold your breath waiting for that.

About 4 months away.

 

[Concerned American]

I’m going to enjoy watching millennials pay 29% on their credit cards and 16% on home loans.

In the mid 80s I was trying to sell a home. Had a buyer, but he put a contingency on the ability to obtain 18% money--the sale failed because he couldn't find it. Best to learn to live within your means. Home and autos are the only things that I can see that justify borrowing and even those loans should be as small as you can possibly make them and paid off as quickly as possible as well.

 

[Harpy Eagle]

About 4 months away.

Book marked so we can check and see if Mortgage rates are at 16% in 4 months

 

[Concerned American]

Yeah, you’ll get 1.2% at the bank that’s charging 28% for their Visa card.

Do you really think they'll pay a full percent?

 

[HereWeGoAgain]

This is great news for the Wife and I !!!
We have almost zero debt and it's sending our bank stocks through the roof!!
They'll most likely raise the rates several more times in the near future.

 

[Dekster]

Book marked so we can check and see if Mortgage rates are at 16% in 4 months

They won't be, but mortgage rate are somewhat detached from the fed rates. New-issue credit card rates have been horrible for a few years now. I have an 800ish credit score and zero balances and these jokers are sending me offers based on my excellent credit at 25% with a wow 3% cash back so I would only be paying 22%

The credit cards I have are both under 10% not that I pay them any interest. I usually pay in full within a few days of using the one I use sporadically online.

 

[Harpy Eagle]

They won't be, but mortgage rate are somewhat detached from the fed rates. New-issue credit card rates have been horrible for a few years now. I have an 800ish credit score and zero balances and these jokers are sending me offers based on my excellent credit at 25% with a wow 3% cash back so I would only be paying 22%

The credit cards I have are both under 10% not that I pay them any interest. I usually pay in full within a few days of using the one I use sporadically online.

I know it will not, but it will be fun to come back in 4 months and laugh my ass off at the moron that said it

 

[Deplorable Yankee]

Buckle up, it’s going to be long expensive ride View attachment 617301 Dow turns negative, Treasury yield curve flattens after Fed delivers quarter-point rate hike — MarketWatch

And they're gonna keep coming

Shocker

Meanwhile
How ya doing America?
There was no way the answers to this were ever going to be anything but rough:

"I haven't had beef in 4 weeks": Jesse Kelly asked how inflation and gas prices are hurting people’s families. The responses are brutal…

There was no way the answers to this were ever going to be anything but rough:

notthebee.com

 

[Woodznutz]

They won't be, but mortgage rate are somewhat detached from the fed rates. New-issue credit card rates have been horrible for a few years now. I have an 800ish credit score and zero balances and these jokers are sending me offers based on my excellent credit at 25% with a wow 3% cash back so I would only be paying 22%

The credit cards I have are both under 10% not that I pay them any interest. I usually pay in full within a few days of using the one I use sporadically online.

Like me and others who don't carry a CC balance you're a deadbeat.

 

[Woodznutz]

Yeah, you’ll get 1.2% at the bank that’s charging 28% for their Visa card.

Don't conflate savers and borrowers.

 

[AzogtheDefiler]

Rates should have rose a dozen years ago. Funny how everyone believes money should be free and that there is no cost for that.

100% but the Fed lowered them to the floor for Obama because Bush F*cked up and then due to the overblown virus. Rates should be raised another 200bps. Then we may normalize the economy.

 

[pknopp]

100% but the Fed lowered them to the floor for Obama because Bush F*cked up and then due to the overblown virus. Rates should be raised another 200bps. Then we may normalize the economy.

Trump also argued for them to remain low and they did.

 

[AzogtheDefiler]

Trump also argued for them to remain low and they did.

They remained low due to COVID. They were rising pre-covid.

 

[pknopp]

They remained low due to COVID. They were rising pre-covid.

Trump even argued for negative rates.