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Fed hike expected to raise mortgage, credit card and auto loan costs

A quarter-point increase from the Fed is also expected to lift deposit rates, which could affect how quickly consumers see changes in savings yields.

Reported · Written up by our desk · Mortgages

CNBC Real Estate said the Federal Reserve has raised interest rates by a quarter point, a move expected to ripple through consumer borrowing and savings costs.

The outlet said higher rates can affect mortgage pricing as well as the cost of credit cards and auto loans, since consumer loan rates often track broader market interest-rate moves.

CNBC Real Estate also noted the rate decision could influence deposit rates, which determine what consumers earn on savings accounts after policy changes.

Overall, the rate hike is positioned as a multi-borrower, multi-saver development, touching mortgages, credit cards, car financing, and the returns on savings deposits.

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