Elise Amendola / AP
Thursday, June 15, 2017 | 2 a.m.
WASHINGTON — Credit card holders will soon pay more. So will people with adjustable-rate mortgages or home equity lines of credit.
But most would-be home buyers needn’t worry. And auto loan rates won’t likely change much. For savers? Rates should creep up, at least for the highest-yielding CDs and saving accounts, though on average they’ll still pay a pittance.
The cumulative impact of another Federal Reserve interest rate hike — its fourth in 18 months — will range widely for individuals and businesses with loans or income-producing accounts.
And the consequences range beyond U.S. shores. A series of Fed hikes generally means that overseas investors in search of interest income can increase their returns by shifting money into the United States. Higher U.S. rates also tend to cause an outflow of capital from developing countries that can ill-afford it.
The most immediate effects, though, are generally on borrowers in the United States. When the Fed lifts the short-term rate it controls by one-quarter of a percentage point, as it did…
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