Indiana NewsLocal News

Fed rate increase expected to have little local impact

FORT WAYNE, Ind. (WOWO): Not many local experts are worried about the Federal Reserve raising interest rates Wednesday.

It was the third time the Fed raised rates this year, boosting the federal funds rate by a quarter point based on optimism surrounding jobs and the economy.

The Journal Gazette reports that realtors feel the housing market will be OK, saying the increase won’t have a big impact on monthly payments.

Homebuilders might feel the pinch a bit more, as the costs for building materials keep rising: they’re about 4% higher so far this year.

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