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Calculator: Credit Cards, Student Loans and Rising Rates

Personal Finance
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We adhere to strict standards of editorial integrity. Some of the products we feature are from our partners. Here’s how we make money.

Credit cards

Credit card interest rates are typically tied to the prime rate. When the prime rate increases, credit card rates usually follow.

Mortgages

Rates for the 30-year and 15-year fixed-rate mortgages and for 5/1 adjustable rate mortgages, or ARMs, are an average of the published annual percentage rates for the loans with the lowest points for each loan type offered by a sampling of national lenders. APR quotes reflect an interest rate plus points, fees and other expenses, providing the most accurate view of the costs a borrower might pay. While the federal funds rate, which is set by the Federal Reserve, does not directly impact long-term fixed-rate mortgages, it does influence variable-rate home loans.

Student loans

Variable-rate student loans tend to increase along with the prime rate or the London Interbank Offered Rate, known as LIBOR, both of which generally move in tandem with the federal funds rate.