Another interest rate hike to come?

HOUSTON - Are interest rates on the rise again? They likely won't happen after the meeting on Nov. 8 since the Federal Reserve has never raised rates after consecutive meetings.

Greg McBride, Bankrate Chief Financial Analyst, does expect the fed to raise interest rates when they meet in December.

Through their written statement and individual forecasts, FOMC members have signaled that further rate increases are coming, possibly as early as December.

These are not commitments as much as they are clues, based on what is known at the moment when they are issued.

McBride says, "Because the Federal Reserve's job is to take away the punch bowl when the party is heating up."

McBride advises investors to not be thrown off by rate increases saying, "Don't let the prospect of rising interest rates derail you from your long-term investing strategy. Do not make knee-jerk decisions and sell into a downturn."

If an increase happens in December, it will be the fourth increase this year and the ninth in the past three years.

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