AraSELLy

Interest Rate Update
Interest rates have eased down a tiny bit over the last few weeks. Some “experts” say rates
could dip down again for a short period of time as Congress starts to deliberate about the debt
ceiling.
The Shutdown Continues
Really? I don’t care which party you follow or are affiliated with and it really doesn’t matter.
We elect these people to do a job and avoid things like this. So no more finger pointing or
grandstanding. I think the message we all need to send to Washington is enough bickering and
get the job done. Anyway, also in the negotiations is the looming debt ceiling which needs to
be raised again. The debt ceiling currently is at 16.7 Trillion. That is the total amount the U.S.
Government is authorized to borrow to meet its existing legal obligations. This amount needs
to go up to cover expected increases in needed borrowing. How much more has not been decided.
How Does This Affect You ?
These crazy numbers get thrown around all the time now. 88 Billion the Federal Reserve
spends monthly to help stimulate the economy. 16.7 Trillion for the debt ceiling. What the
heck does that look like. I found a quick illustration online (see attached) to help provide a visual of how much money we are really talking about.  It is scary how much money that really is.
30 Year Fixed up to $417,000  3.99% to 4.50%
30 Year Fixed “Agency” up to $625,500  4.125% to 4.625%
30 Year Fixed FHA up to $417,000  3.75% to 4.0%
30 Year Fixed FHA “Jumbo” up to $729,500  3.75% to 4.125%