Interest rates are on the rise. Here's how to get ahead of a hike

The Federal Reserve is likely to raise interest rates by three-quarters of a point for the second month in a row at its meeting later in July. The central bank's intention is to help combat high inflation.

This expected hike will affect everything from stocks and bonds to mortgage rates and auto loans.

Watch this video, as CNBC's Emily Lorsch shares tips for getting ahead of a rise in interest rates.