// BEGIN editorial data
 var i = 0;
var RisingRateAffects = new Array();
RisingRateAffects.ID = "RisingRateAffects";
RisingRateAffects.ID_WB = 5327035;
RisingRateAffects.sPubDate = "6/29/2004 11:10:37 PM GMT";
RisingRateAffects.mainsectionID = ""
RisingRateAffects.navsectionID = "3032221"
RisingRateAffects.appFmt = 2;
RisingRateAffects.itemsPerPage = 1;
RisingRateAffects.appWidth = 460;
RisingRateAffects.appHeader = "Fact file|How rising rates affect you";
RisingRateAffects.appDeck = "The Federal Reserve has begun raising interest rates for the first time since 2000 and is expected to continue raising rates well into 2005. Here are some of the ways the Fed’s action will affect ordinary consumers and businesses.";
RisingRateAffects.appFooter = "Source: MSNBC research";
RisingRateAffects.appNavStyle = 3;
RisingRateAffects.appLayout = 3;
RisingRateAffects.copyHeight = 160;
RisingRateAffects.copyWidth = 330;
RisingRateAffects.copyMargin = 9;
RisingRateAffects[i++] = new Array("","Housing","","","","", "", "", "", "", "", "", "", "", "", "", "", "", "", "");
RisingRateAffects[i-1].body = "Rates on long-term, fixed-rate mortgages already have jumped nearly 1 point in the past three months and are likely to rise another half-point by the end of 2004, industry experts say. Adjustable-rate mortgages will be rising, meaning higher monthly payments for many homeowners.";

RisingRateAffects[i++] = new Array("","Autos","","","","", "", "", "", "", "", "", "", "", "", "", "", "", "", "");
RisingRateAffects[i-1].body = "Zero-interest rate loans will become a more expensive incentive for automakers, although they probably will continue to be offered on selected models for now. Over time this “free money” is likely to disappear, said David Wyss, chief economist at Standard & Poor’s.";

RisingRateAffects[i++] = new Array("","Credit cards","","","","", "", "", "", "", "", "", "", "", "", "", "", "", "", "");
RisingRateAffects[i-1].body = "Rates already are an average 13 percent on credit card balances and likely will head higher over the next two years. Wyss, of Standard & Poor’s, estimated credit card rates will rise about 1.5 percentage points, assuming the Fed ultimately raises its benchmark rate by about 3 points over that timeframe.";

RisingRateAffects[i++] = new Array("","Home equity and other loans ","","","","", "", "", "", "", "", "", "", "", "", "", "", "", "", "");
RisingRateAffects[i-1].body = "Many home equity and business loans are tied to banks’ prime rate, which will move up in lock step with the Fed’s benchmarks. That means higher monthly payments for existing loans. Businesses might choose not to borrow to fund certain marginal projects.";

RisingRateAffects[i++] = new Array("","Deposits","","","","", "", "", "", "", "", "", "", "", "", "", "", "", "", "");
RisingRateAffects[i-1].body = "As interest rates rise cash will be king, bringing relief to senior citizens and other investors who have suffered for years with low interest payments on their savings. Banks and brokerages gradually will pay more on savings, money market accounts and certificates of deposit.";

RisingRateAffects[i++] = new Array("","Foreign exchange","","","","", "", "", "", "", "", "", "", "", "", "", "", "", "", "");
RisingRateAffects[i-1].body = "Higher U.S. interest rates tend to strengthen the dollar, making imports cheaper and making American-made products more expensive overseas. The dollar has risen about 3 percent on a trade-weighted basis so far this year. Wyss, of Standard & Poor’s, predicted the dollar would remain steady as the Fed raises rates and then fall under pressure from the nation’s huge trade deficit.";

	// END editorial data