Although the interest-rate boost signals a strong and growing economy, Perez said, “it may put a chill on auto sales and mortgages. But the effect will be negligible over time.”

Mortgage rates did not immediately change last week, said Jeff Cameron, First California Mortgage Co. senior loan adviser and branch manager in San Antonio.

“There’s no signs pointing to major changes right away, and for clients who think they’ll need a loan in coming months, it’s smart to apply now to see how you qualify and explore options to customize to your situation. If there is movement down the road, a half-point or a point change in rates can make you regret not locking in earlier,” Cameron said in an email.

Read the full article on the San Antonio Express News website.