All You Ever Wanted To Know About Interest Rates (But Were Afraid To Ask)
Interest Rates: The business news is full of stories about interest rates, how they affect the stock market and how the Federal Reserve Bank might be raising rates or waiting to raise rates. The market might plummet or shoot up on a day where there is an unexpected change in rates or the hint of a future change in rates. You might think you know what an interest rate is, after all you have a savings account, right? You pay interest on your mortgage or student loan, right? But interest rates are a lot more complicated than that and in this post I will try to demystify them and explain what interest rates really are and why they are important.