If you’re a homeowner, UC Irvine [assistant] professor, Jack Liebersohn, says it won’t be a good time to refinance your home, and, “if you’re somebody like me who doesn’t own a house, that also means mortgage payments might put that house out of reach – you have to buy something a little bit cheaper.” … it’s not all doom and gloom. “There could be people who benefit from the increase in interest rates. Borrowers are likely going to face higher interest rates, but savers are going to benefit from those higher interest rates because they’ll earn higher returns,” says Liebersohn.

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