Fed hikes rates to highest since dot-com bubble. The central bank’s key overnight rate will rise to a range of 5.25% to 5.5%. That is higher than it has been in decades.
(www.washingtonexaminer.com)
🤑 MONEY COLLAPSE 💥
Most mortgages need to be renewed every 4-5 years. If you have a fixed rate, it’s fixed for that period of time, after which you need to renew - generally at current market rates.
So if your mortgage is up for renewal, you could see a substantial increase in your rates and monthly payments.