After interest rates go up, how and when do they go back down? Well…when inflation gets under control. When the economy experiences hyper-inflation, the Federal Reserve, essentially, the central banking system for America, is in charge of protecting the U.S. dollar and keeping inflation under control. The “Fed” is raising interest rates so that you, as an american consumer, will spend less money. They need us to spend less money in order to get the price of things to come down. Until that happens, they are going to continue to raise rates. When inflation gets under control, we should see interest rates come back down. Which is a perfect time to refinance your mortgage if you buy now when rates are climbing.
