News Alert: Fed Increases Interest Rate

The Federal Reserve has increased the key interest rate to 3.5 percent, the highest level in almost four years. Just my luck: I signed a contact on a house Friday, met with a person at the bank on Monday and they raise the rates on Tuesday before I can get anything locked in. It's good to know that I'll be paying more interest than nearly all of the country since most people have refinanced on the last few years.