The Fed Meeting and Inflation – Tips to help budget!
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6/13/2022
This week the Fed is due to announce the next Federal Funds or Federal Prime Rate increase. It has been previously mentioned that every 6 weeks the fed plans to increase the rate by .50%. This time, before the meeting began, it was hinted that we would see an increase of .75%. This in itself has shot the stock market, the cryptocurrency market, and interest rates into a tailspin for the worse.
Additionally, last week it was announced that inflation has hit a 40 year high. The current inflation numbers haven’t been seen since 1981.
What does this mean to you?
Should you consider buying a home right now?
How do you get your budget inline? With gas and grocery costs being more than 10% of the household income right now, what can you do to get your expenses down?
Should you consider a refinance even though your first mortgage rate is lower than what is available today?
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Debbie Marcoux is licensed by the Department of Financial Protection and Innovations under the California Residential Mortgage Lending Act, NMLS ID 237926, also licensed in AZ-0941504, FL-LO76508, GA-69178, ID-167867, IL-031.0058339, NC, NV-57237, OR, TN-184373, TX, WA-MLO-237926
