Fed raises interest rates .25%

[katietornado]

www.bbc.com/news/business-35117405


US Federal Reserve raises interest rates by 0.25%, a move with potential global repercussions.


The move takes the range of rates banks offer to lend to each other overnight - the Federal Funds rate - to between 0.25% and 0.5%.

The US central bank also raised its projection for economic growth next year slightly, from 2.3% to 2.4%.


That suggests the bank does not think the rate increase will damage growth. US share markets jumped in response.


The Dow Jones went from a 50 point rise to stand up 79 points at 17,612.79, a 0.5% gain.


The rise is the first move upwards since 2006. Rates in the US have been at near-zero since 2008.

[msmerymac]

And today I finalized my mortgage re-fi. The rate has been locked in for a few weeks, though. The loan officer said it was the lowest rate he's seen in months, too! It makes me scared to buy a house in the future. Maybe in 10 years we'll have 12% mortgage interest rates again.

[saz]

I don't know how much of a difference this would have made but we just bought our house two weeks ago and I feel glad we got it done before this!

[karinothing]

I am sad I can't buy a car until 2017. Although I doubt it will go up a huge amount by then. Plus the car industry is still struggling

[Velvetshady]

And we got our mortgage rate for the house we're building yesterday:)

[heyjude]

Working with our mortgage broker as we speak on a refi....