You hear about interest rates everywhere. They affect how
much your bank will pay out on your CDs and money market accounts.
They affect how much more you have to pay a credit card company
above and beyond the amount you charged.
They make your house payments rise and fall. They make your
investments rise and fall. But what makes interest rates rise
and fall?
High, low, fixed, variable. What's so interesting about rates,
anyway?
They say in Seattle, if you don't like the weather--just wait
half an hour. Likewise, if you don't like the direction in
which interest rates are headed, wait for the next time Alan
Greenspan makes a public statement.
Interest rates are kind of like mood rings: When they're low,
you feel all warm and radiant. But when they rise, the whole
world grows dark and cold. Especially if you're big on using
credit cards.
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