1. Consumers Should Limit Borrowing.
Consumers should reduce discretionary spending during periods of higher rates and postpone any unnecessary borrowing as interest rates rise.
3. Move To Conventional Mortgages Versus ARMs
If you have your heart set on buying a home this spring, the window will soon be closing on consumers seeking an affordable mortgage
4. Avoid Variable HELOC Loans
Your HELOC is a revolving line of credit secured by the equity in your home, often used to pay for home improvement projects.
5. Car Loans May Not Go Much Higher
The higher interest rates may not affect car loans as much as the continued chip supply constraints in the short term.