It was inevitable, and now it's here. On December 16 the Federal Reserve Bank increased the interest rate. It's the first interest rate hike since the Iphone was invented. Some say "it's about time", while others think it's a bad idea.
But what does it really mean to you? Will it affect your mortgage? How about construction loans? There's lots of conflicting opinions flying around. Here's a comprehensive overview from an objective source:
What does the new Interest Rate rise mean to you and your Cape Cod home?
What does the new Interest Rate rise mean to you and your Cape Cod home?