The Federal Reserve has kept interest rates at near-zero levels since the Great Recession as a way to help reignite the United States economy.

With certain segments of the economy, such as unemployment and inflation, showing strong signs of improvement, the Fed signaled Wednesday it may begin raising rates this year for the first time since 2006. The Fed could decide on the move as early as June.

Raising the short-term interest rate would also have a ripple effect on the economy, indirectly causing interest rates to rise on corporate bonds, auto loans and mortgages, among other things.

Mortgage interest rates have remained at historically low levels in recent years. Rates for a 30-year mortgage in the past few years climbed slightly above 4 percent a year ago, but have since slipped back down an average 3.75 percent.

Low mortgage rates have helped pull the housing market out of its recession-induced rut, and increasing rates at a time when the market has become more sluggish would put a damper on activity, said Frank Nothaft, chief economist at housing research firm CoreLogic.

However, increasing rates mean the economy is getting stronger, so it’s a tradeoff.

 “If we do have strong income and job creation this year, then that’s a pretty powerful offset to slightly higher mortgage rates,” Nothaft said. “And we can still see a pickup in home sales and housing starts and housing activity.”

Nothaft said everyone has known all along that interest rates would eventually rise back to more historically normal levels, and the increases will likely happen slowly and gradually.