The Federal Reserve isn’t setting your mortgage rate

It’s Whaddya Wanna Know Wednesday, that time of the week when our hosts answer your questions! We’ll start with a couple of questions about the Fed’s interest rate policy. One listener asks why a jump in mortgage rates doesn’t seem to be in line with the central bank’s single rate hike, and another wonders why banks and credit card companies don’t raise their own interest rates instead of waiting for the Fed. We’ll also follow up with yesterday’s guest for a question about refugee placement in the United States, and explain how Elon Musk made it to the top rank of the world’s richest people. Here’s everything we talked about on the show today: “What the Fed’s move could mean for mortgage interest rates” from Marketplace “How Banks Set Interest Rates on Your Loans” from Investopedia “Tesla’s Elon Musk drives past Jeff Bezos in Forbes’ list of billionaires” from Sky News Elon Musk’s immense wealth — from emeralds to PayPal, SpaceX and Tesla from The Independent