Sentences with phrase «effect on an adjustable rate mortgage»
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While it is a small increase, it could have a trickle down effect on your bank account, 401 (k) plan, adjustable - rate mortgage loan and even your credit card.
https://www.cnbc.com/
In the near term, higher interest rates will have an immediate effect on consumers with credit card debt, home equity lines of credit and those carrying adjustable rate mortgages.
«The cumulative effect of interest rate hikes is going to begin mounting,» said Greg McBride, Bankrate.com's chief financial analyst, particularly on variable - rate loans such as credit cards, home equity lines of credit and adjustable - rate mortgages, which could rise within one to two statement cycles.
The effect is most clearly seen in the prices of shorter - term loans, including auto, personal loans and even the initial interest rate on some Adjustable Rate Mortgages (ARrate on some Adjustable Rate Mortgages (ARRate Mortgages (ARMs).
Payment Change Date The date when a new monthly payment amount takes effect on an adjustable - rate mortgage (ARM) or a graduated - payment mortgage (GPM).