Why Interest Rates Go Up as Well as Down

Interest rates went up by what they call 75 percentage points. That's three-quarters of a percent to you and me. Up to 3 percent, which is still a historically low level of interest rates. But that's not what people think because most people nowadays have only experienced 0 or 1%. If you're under the age of 30, you won't have experienced interest rates higher than 0 or 1 percent. No, 40 probably depending on when you go to your house. What you're paying for your mortgage is determined by interest rates. And when they go up, you're going to be paying a big chunk more for your mortgage. Some of that is due to international increases in interest rates