During the last few years, borrowers and spenders have enjoyed historically low interest rates. However, analysts all agreed that at the Federal Reserve’s June meeting, interest rates were going to be increased. Although rising interest rates have been anticipated, many Americans aren’t feeling prepared for the effects of these new rates. Combined with today’s exorbitant gas prices, the continued forward push of inflation rates, and supply chain/inventory issues, many households are feeling the effects of interest rate increases. Click here to read more