Fixed mortgage loan holders can rejoice as their interest rates will remain steady after a fed rate hike. Variable-rate mortgages and new mortgage loans will be affected by rising interest rates.

Kiplinger’s latest mortgage rate forecast projects that new 30-year, fixed-rate mortgages will rise to 4.40 percent, up from today’s 3.95 percent rate. The 15-year fixed rate is also expected to increase 0.40 percent from the current 3.30 to 3.70 percent rate.

For home equity lines of credit, which are pegged to the prime rate, the rate increases annually. In the short term, however, the upcoming rate hikes shouldn’t affect your payment until your HELOC reset date arrives.

Overall, the solution for the rising mortgage interest rates forecasts to consider refinancing your variable-rate loan to a fixed-rate solution without extending the loan term. You might even think about getting a 15-year fixed rate loan to decrease your total interest payments.