In today’s market update, we’re discussing the current state of mortgage bonds, debt consolidation, and the potential for more rate hikes.
Mortgage bonds are down 16 basis points, with the 200-day moving average acting as a significant barrier. However, the 50-day moving average is providing some support, resulting in a tight trading range.
Debt consolidation is an essential strategy for saving money and enhancing their financial well-being. With debt levels at an all-time high and interest rates rising, many individuals need help to keep up with their payments. By consolidating debts and utilizing home equity, homeowners will now have the opportunity to save a considerable amount of money each month. This could translate to an additional $5,000-$10,000 monthly income for those working with loan advisors to improve their financial situation.
Meanwhile, the Federal Reserve is expected to raise rates again this week, with an announcement expected on Wednesday. The focus will be on whether this will be the last rate hike or if there will be more.
This week also brings jobs reports, including the Wednesday ADP report and the Friday BLS report, focusing on earnings and wage behavior.
