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HRCCU Blog

Why Interest Rates Fluctuate

Posted by Katie Koke on Mar 16, 2020 11:00:00 AM

If you’ve taken out a mortgage, auto loan, or even just own a credit card then there’s a good chance that you intimately understand the fundamentals of interest rates. This is how it works, you borrow x amount of money that you pay back over an agreed upon period of time. Now because the creditor or financial institution is in essence fronting you money that you don’t have at the moment, then in return you pay the money back in installments at an agreed upon percentage. 

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Topics: rates, economics, inflation