Car, Home, and Credit Card Interest Rates to Increase
Interest rates will begin to rise once again as the economy begins to take hold once more. This will place many consumers in a bind who are still struggling to make payments on things they own.
Economists are predicting that the rates are being raised to prevent further inflation. Bill Gross of the investment firm, Pimco states, “Americans have assumed the roller coaster goes one way. It’s been a great thrill as rates descended, but now we face an extended climb.”
Fixed mortgage rates on 30-year home loans have have also gone up to 5.2 percent from 5 percent which is the highest level they have ever been in the last eight months. Fixed rate mortgage averages increased to 5.21 percent a week earlier. Interest rates in August were at 5.29 percent and dropped to 4.71 percent in December of 2009. Economists are suggesting that rates will reach 6 percent, something Americans haven’t seen since 2008.
15-year fixed-rate mortgages have also gone up from 4.39 percent just a week ago to 4.52 percent. The housing market is going to feel the effects of rising interest rates and they are not predicted to go any lower. Many consumers are now regretting not purchasing a new home sooner, and with the first time home buyer credit ending this month, home sales will go up dramatically.
Interest rates on credit cards have also increased to 14.26 percent, which is the highest rate since 2001. Get ready to pay more on car loans too, as rates for them have also increased. 
don’t you think it’s a little disingenuous to suggest that Interest Rates are “to Increase” even though the Federal Reserve (which sets interest rates) has declared time and time again that the Fed overnight target rate will be kept Near Zero for a “Prolonged” period of time? Yeah, eventually Interest Rates will increase, but a healthy interest rate is an indicator of a healthy economy. You should be writing about why the interest rate is what it is now and why it’s been artificially low so long which is one of the many reasons that caused this whole mess, not when it might come up, presenting that as a black and white negative fact.
my dear, my god!
what you mean interest rate increase again? I have been charged from 25 to 31 percent for all my credit cards and department store cards for last two years.
I dont know how much more credit company will increase, it comes to the end that i can not afford.
best regards,