mortgage

Interest rates to edge higher in 2014

 

How will interest rates fare in 2014?

With most of the year still ahead of us, we have enlisted the help of financial experts to predict what's in store for interest rates on mortgages, certificates of deposit, auto loans, home equity loans and credit cards.

Greg McBride, CFA, senior financial analyst at Bankrate.com, says consumers should brace for mortgage rate increases as the economy improves and the Federal Reserve dials back on its bond purchases.

Auto loan rates will hover near record-low levels. Credit card rates are expected to increase, but only for riskier borrowers. And longer-term maturities on CDs also may see an uptick.

"Shorter-term CD yields will stay in the doldrums," says McBride, who also predicts that home equity lines of credit, or HELOCs, will remain stable or possibly drop as competition increases among lenders.

Read on for an in-depth look at what to expect from interest rates in 2014.

Compare interest rates to get the best deal.

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