The Federal Reserve decided against raising its key interest rate this month, but some say those rates might go up in the near future. There are some steps you can take now to save before that happens.
“If there are people out there who still haven’t yet refinanced their home, take advantage of the low rates now because they’re not going to get any lower,” said financial adviser Jennifer Landon.
There are some other things you can do. If you have substantial loans or debt on variable rates, work to pay those off or consider consolidating them will the rates are still low. Another thing to do is evaluate all of your investments.
There haven’t been any interest rate increases since 2008 making this the longest run the country has seen with interest rates this low.