Market Update
Market Edge

Market Update – September 8, 2022

The trend of the Market

The markets were up a bit for a second day. The trend of the market is still showing me as downward.

Currently, the S&P500 stands at +26 today - 4006. The D/J +193 - 31,774.

The current average 30-year fixed mortgage stands at 5.89%. One year ago, the rate was 2.88%.

Putting this into perspective, the home that cost $390,000.00 in 2021 had a monthly payment of $1,295.00 (with 20% down). Today the same home (again with 20% down) will cost $1,849.00. A difference of $554.00 more per month.

I see the S&P 500 at 3,200 - 3,500 before this is over.

Money market accounts are a safe alternative to continuing to lose money..................

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