No use locking interest rates after fed’s increase

Expert says most markets
have accounted for change

Rushing to lock in that interest rate may not be the best plan of action.

Despite an increase in the feds’ key benchmark lending rate in the last week, you probably won’t see much movement on rates for homes, cars or anything else for awhile, says David Justus from Park Bank in La Crosse

“In my mind it’s really a nothing because most of the markets have accounted for it at this point,” Justus said.

The Feds raised interest rates by just a quarter percent last week. It’s the first increase from zero percent since 2008, but more slight increases are expected to come in the new year.