The positive impacts of the interest rate hike are subtle and may seem negative, but there is a silver lining in every dark cloud. The hike affects those with variable mortgage the most. For example $250,000 mortgage with 25 year amortization will see a increase in payments of about $35 a month. According to Rob Hafer, Regional manager at the brokerage Invis Inc, states that ,“Home owners with variable rate loans should think about putting extra cash, directly toward their mortgage, or set the payments higher to pay down the principal faster. That way, when rates go up, borrowers wont have to kick in more of their income, instead the amount toward the principle will fall.” The long term benefits in this are enormous, as the amount and the length of mortgage decreases even with a higher interest rate.