WLWT: Rising interest rates could affect adjustable rate mortgages
UC economics professor encourages borrowers to pay attention to changes
With interest rates rising, homeowners with an adjustable-rate mortgage need to be aware of when their rate will reset, WLWT reported.
The Federal Reserve Board has increased interest rates, which means people with variable interest rates soon could be facing higher payments.
"The Fed has announced this for quite a few months, to expect the interest rate rise," said Michael Jones, the Kautz-Uible Professor of Economics in the University of Cincinnati’s Carl H. Lindner College of Business. "And it's not just homes. It's credit cards. It's student loans. And so if you have any of those other types of loans that are based on variable interest rates, really be paying attention to that right now."
Featured image: UC economics professor Michael Jones. Screenshot courtesy of WLWT video.
Impact Lives Here
The University of Cincinnati is leading public urban universities into a new era of innovation and impact. Our faculty, staff and students are saving lives, changing outcomes and bending the future in our city's direction. Next Lives Here.
Related Stories
Put down that beer; it's not a tanning lotion
July 1, 2024
The University of Cincinnati's Kelly Dobos joined WVXU's Cincinnati Edition to discuss what's fact and what's myth when it comes to sunscreen use, different kinds of sunscreen and a social media recommendation to use beer on your skin to help get a tan.
Cincinnati researchers want to know if MRIs can work better
June 28, 2024
WVXU and the Cincinnati Business Courier highlighted a new collaboration between the University of Cincinnati College of Medicine, UC Health GE HealthCare, JobsOhio, REDI Cincinnati and Cincinnati Children’s to create an MRI Research and Development Center of Excellence located on UC’s medical campus.
UC opens Blood Cancer Healing Center
June 28, 2024
Media outlets including WLWT, Local 12, Spectrum News, the Cincinnati Enquirer and Cleveland.com highlighted the opening of the University of Cincinnati Cancer Center's Blood Cancer Healing Center.