- It’s been a rough week for mortgage rates. I know we are all feeling it. HANG IN THERE!
- On average, a recession starts 22 months after the Fed begins to hike rates. We are at month 17.
- Some say we won’t have a recession or will have a shallow recession. Others believe we’ll hav ea recession due to:
- The yield curve continues to be severely inverted
- The full slowdown impact from the Fed hikes has yet to be felt
- Consumer spending appears to strong, a lot of that is on credit though which can’t last forever. Outstanding credit card debt has surpassed $1T and is at near record high rates
- Student loan payments will begin again Oct 1
- Excess savings depleted from stimulus- was $500 billion in March and has fallen to $190 Billion in June.
Weekend Update Date Market Update Bonds are a little down right now so we recommend locking at the moment Congressional Budget Office says the deficit is no 1.6 T. They think it will increase 60% in the next 10 years if nothing was added. That is extremely unlikely. CBO anticipates