Daniel Young’s Credit Union Times article about the Fed rate hike was published in the December 16th issue, “Fed Raises Rates 0.25%” – http://www.cutimes.com/2015/12/16/fed-raises-rates-025. For the first time in nearly a decade, the Federal Reserve Board’s open market committee raised the Federal Funds interest rate. The target range is now 0.25% to 0.50%.
Douglas Ceto, president/CEO of CetoLogic, told CU Times that by raising the interest rates, financial institutions will have a clearer direction on the Fed’s intentions. He added that the increase will impact members most dramatically with rates in mortgage and auto loans. He goes on to explain, Credit unions will more likely move rates up more in line with raising rates, which could slow home sales on a national basis; which, mind you, is what the Fed wants to do to avoid another housing bubble."
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