How the Potential Hike in Interest Rates May Affect You

'Shark Tank' panelists Barbara Corcoran and Kevin O'Leary explain the potential outcome if the Federal Reserve raises interest rates.
1:25 | 12/16/15

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Transcript for How the Potential Hike in Interest Rates May Affect You
the first time in nearly a decade the federal reserve expected to raise interest rates. Fed chair Janet Yellen will likely announce a 0.25% hike that could have an impact on your mortgage to credit cards. Lara with our experts. Joined by "Shark tank's" Barbara Corcoran and Kevin o'leary. This is the first hike since 2006. How big a deal would it be for our viewers? What the immediate effect will be on the housing market will certainly help it because it will kick people off the fence who have been procrastinating and jump into the market and it will really boost prices immediately. So you like it for real estate but could mean some problems for credit card rates. Kevin, what's your take on this? No, she's wrong. Real estate will go flat. I knew you were going to say that. Real estate goes down. That's how it works. You know, the thing is, it's good news. The reason the fed is raising rates, the economy is heating up. That's always good news, more jobs. Housing, nah, Barbara is wrong. Oh, yeah, all right, we'll see. Money on that. We will look forward to this exchange. I want to ask about it being good news. A lot of viewers are concerned. Stay tuned with us in our next half hour, the sharks will be back to answer your questions about what this means for your bottom line. Robin and George, of course, they're disagreeing. Only the beginning. The pace of Dan and Nancy. Ginger, you have this big

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