ROCHESTER, N.Y. (WROC) — The Federal Reserve cut interest rates by a quarter point after wrapping up its two-day meeting Thursday. Locally, Advantage Federal Credit Union has already dropped its rates. “Mortgage rates are hard to predict. There's a few more factors at play here with a new political party entering. We aren't quite sure where mortgage rates are going to go but auto loan rates are great," vice president of branch administration at Advantage, Nihada Donohew said. Currently, the organization's auto loan rates are as low as 4.99%. Federal Reserve cuts its key interest rate by a quarter-point amid postelection uncertainty Donohew said they're seeing an influx of people taking advantage of the low rates, which she said is a smart decision since it makes vehicles more affordable.  Currently if you do live, work or worship in the City of Rochester you qualify to be an Advantage member. You can apply on their website. The Fed meets again in December. New data in the coming weeks on inflation, spending and employment will influence its next rate decision.