Well it comes next week, another Federal rate increase, like so many Americans who had to take an equity loan on their homes or condos to make ends neat, the second of many rate increase to come, has certainly put a damper on my spendings to say the leastIt;s enough that after having my equity loan for a little over ten years(120 payments plus interest), I am now forced to make accelerated payments for the next 240 months, thus paying an additional $350.00 dollars a month. With next week’s rate increase, it will add on an additional $22.00 a month. All in all it will totaled some $715.00 a month for just my loan, something I did not expect. I am sure that there are those who probably have a $250,000 equity loan and are probably doing some extra nail biting. However this is just the second of maybe four jumps in the prime rate that is planned for this year alone. What the “Trumpians” and Fed chair woman, Janet Yellen isn’t taking in, is that with mortgage rates reach a high of 5 percent from it’s low 0f 3.25%, how the Hell are people, mostly are wanting, ever going to finance their first home?

The ripple effect of fewer buyers in the real estate market, will take its toll not only on the housing market, it will bring on more foreclosures to the banks, the manufacturing of homes, the supply chains, like Home Depot, and Lowe’s.

Right now President Trump is scaring many of us with his favoritism  towards the wealthy in this country his tax breaks. It’s about time that the president help the middle class and seniors. WE worked steady and hard to make our America great, and with the new provisions for our future health care, and the inching up of the fed’s rates increase, I see my future heading down a new path, straight to the Poorhouse .

Leave interest rates ALONE, if you  want to make “America Greater” as President Trump keeps emphasizing, help us save money to afford to go to doctors, and to keep our house, while are living a life of luxury.