· Updated March 19, 2018. The Federal Reserve raised its benchmark fed funds rate to 1.5 percent on December 13, 2017. It expects to raise it twice in 2018, from its current rate to 2.0 percent by the end of the year. It will increase the rate to 2.5 percent in 2019 and to 3 percent in 2020.

What the rate hike means for mortgage rates. A flattened yield curve means that short-term bonds pay almost as much interest as long-term ones. Typically, for instance, a 10-year bond will pay an investor a much higher interest rate than a 2-year. As recently as January 2014, the difference in rate, or "spread," between these two bonds was 2.6%. In December, it hit a low of 0.53%.

That means mortgage rates don’t have to follow the Fed Funds Rate, even though Fed policy has a profound effect on overall interest rate volatility. The reason that mortgage rates fell after the Fed.

The Fed is expected to announce its seventh rate hike since 2015. higher federal student loan rates will hit in July. Credit card rates go up, loan business · Federal Reserve raises interest rates: What it means for your wallet.

"fed rate hikes typically mean some increase in interest rates on savings accounts and CDs," says Don Kohn, a former Fed vice chairman and now a senior fellow at the Brookings Institution.

What happened after the last Fed rate hike. Rates on 30-year fixed-rate mortgages averaged 3.97% prior to the last Fed rate hike on Dec. 16, 2015, according to Freddie Mac.

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 · What a Fed rate hike means for you. almost directly matching the rate change with a 1.92-point increase since late 2015 when the Fed began to hike rates.

However, the Fed move did not lead to an increase in consumer mortgage rates. On the contrary, mortgage rates dropped more than 50 basis points (0.50%) after the Fed’s late-2015 move.

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 · The point is that a Fed rate hike would have been a bigger deal for the mortgage market several years ago, when ARMs made up a much larger share of the entire universe of US home loans.

The Fed. means that 0% interest credit-card offers could continue to be available, since those deals had begun to dwindle in response to the rising rate environment. Nevertheless, eagle-eyed credit.

The Federal Reserve raised interest rates by another. “Today’s rate hike means borrowing gets costlier, especially for credit-cards, home equity lines of credit, and borrowers with adjustable rate.