Good Tuesday AM,

It is just a tough market.

Home price appreciation is up, consumer confidence is down. In my career, a truism has been that when things are uncertain, people flock to a safe haven, bonds. When stocks falter, historically, bonds do better. Just not the case anymore and has not been for quite some time. The 10-yr cracked 4.50% and is taking mortgage bonds down with it. I don’t know how to explain it. There are lots of metrics showing the economy is unhealthy, but the Fed chooses to see only what they want. No, not going to get started on a tirade here (I would if it would do any good), just keep in mind you can’t fight the tape. We must figure out how to win in the current environment, not the one we wish we had.

On that note and more signs of the Fed wreaking havoc, rising interest rates are hitting Americans’ finances. Consumers in the market for loans to buy homes and cars are discovering that, because of the Federal Reserve’s rate increases, their money gets them a lot less than it would have a few years ago. Meanwhile, those with credit cards and other loans that carry rates pegged to broader benchmarks are finding they have gotten much more expensive. For families who don’t need to borrow, higher rates might not affect daily life too much. But for those who do, the Fed’s aggressive rate increases are really beginning to sting.

Additionally, keep in mind that student loan payments to resume, In total, 24 million borrowers whose payments were suspended will owe an average of $275 per month.

Please remain safe and stay healthy, make today great!