On "Pure Opelka," Thursday evening, Mike Opelka spoke with Holley, a CPA and wealth strategist, about interest rates and how they will affect us directly. Holley explained that people need to remember that interest rates fluctuate, and when they're really low it means the economy is in bad shape.
"Even though they're low, most people can't even take advantage of it," Holley said.
Holley revealed that with the interest rates so low at the moment, the Federal Reserve's planned interest rate increases won't make a major impact on the amount of interest borrowers pay over the life of any loans they take on in the near future.
"So small incremental increases in the lending rates (are a) good sign that maybe the economy is starting to get on solid ground and it's just there to prevent overheating," Opelka summarized.