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The Piney Point

Fed rate hike likely means more expensive credit cards and mortgages, but savers may rejoice

Fed rate hike likely means more expensive credit cards and mortgages, but savers may rejoice
Photo: KPRC 2 / Click2Houston (NBC) · view original

The Federal Reserve just raised the cost of money — bad news for borrowers, good news for savers. The Fed increased its benchmark interest rate Wednesday by a quarter-point, the first rate hike since the summer of 2023. The hike will likely make it even costlier to borrow for homes, autos and ot...

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