What happens if interest rates rise?
An example of an AI chatbot conversation about the effects of rising interest rates.
What happens if interest rates rise?
When interest rates rise, borrowing costs increase, which can slow down economic growth.
How does it affect my mortgage?
Higher interest rates can lead to increased monthly payments on adjustable-rate mortgages and may affect new mortgage rates.
Will it impact my savings?
Yes, higher interest rates can lead to better returns on savings accounts and fixed deposits.
What about the stock market?
Rising interest rates can lead to lower stock prices as borrowing costs increase for companies.
Should I be worried about a recession?
While rising rates can slow growth, they are often used to combat inflation, so it's not always a sign of an impending recession.
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