News & Insights

Think about interest rates the last 10 years before 2022. The world spent almost the entire 2010s decade in a zero or near-zero rate environment. Fast forward to 2022, and the FOMC has raised rates more than 4% in less than 10 months. After witnessing record mortgage refinances throughout 2021 due to record low rates, in under a year, credit unions were then facing worst case scenarios.