Discussion in 'Financial Cents' started by sec_monkey, Dec 16, 2015.
The FED has raised rates by 0.25%
It was a unanimous vote.
Federal Reserve Hikes Interest Rates
It had to happen. They kept talking about it. The market seems not to care and oil at around $36. Interesting economic times, I like listening to the people that are projecting impacts of.
.25%. Boy, that's a bold move.
The FED goal is 3%.
Borrowers will be hurt. Savers will receive a tiny increase in interest down the road.
folks with adjustable rates will be hurt as rates go up from 0.25% to 3%
Savings and IRA at banks is .08%, a hell of a deal.
At whatever level that interest rates are set....there are going to be winners and losers. Being debt free is desirable whether the rates are high or low. Not having anyone with notes on your assets should you default on a loan is a comfortable place to be.
One of our customers builds houses with her husband, she handles planning and sales. Before the "downturn" a few years ago they had 22 working for them, they now have 6. She said her numbers were that a 1 % raise in the mortage rate would add about 12 % to the monthly payments on one of her houses and she is having trouble selling them now.
I didn't think that that small of a raise would have that big of effect. The market loved it- bonus day. Gas is lower then it has been in years and black Friday sales were down over 1%. Either the people do not have the money or they just aren't spending it. Interesting times in the financial world.
3% on $18 trillion is $540 billion more in interest on the national debt every year if my math is correct. Total estimated 2016 federal tax revenue, $3.65 trillion. This is going to be interesting.
Ok, I haven't been posting too much lately, but I definitely think this is worthy!
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This is a heavy subject, but I'll try to do it justice.
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