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Tribune News Service
Tribune News Service
Business
David Lightman, Hanh Truong

Why are mortgage rates up but interest on your savings isn’t? What to know after Fed hikes

Why are you getting virtually no interest on your savings?

After all, mortgage interest rates are nearly twice as high as they were at the start of the year, thanks largely to the Federal Reserve’s decisions this year to increase its key rates.

Yet the interest you’re getting on your CDs and other accounts could barely be more than one-fourth of 1%.

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