Dan Celia: Raising Rates and Mortgage Predictions

Dan Celia: Raising Rates and Mortgage Predictions

PHILADELPHIA—Nationally syndicated host and biblical investing authority Dan Celia discussed the positive turn in the market, as well as the possibility of the Federal Reserve raising rates in the near future.

Celia stated, “On Wednesday morning, the markets finally turned positive, at least in the pre-market open. Hopefully that can hold for the rest of the week. By the way, 119 stocks in the S&P 500 are in bear territory. That means they are down at least 20%, some a little bit more. I don’t think it’s going to slow down in the next several weeks, but hopefully it will soon.

“A lot of people are expecting the Federal Reserve to begin raising rates in March. I am in the camp that believes they need to start raising a little bit sooner, even at the end of this month. I would like to see the Federal Reserve be aggressive in raising rates and get three or four rate hikes done before the fourth quarter. I think that would be beneficial for the markets and allow people to take a breath headed into the end of the year, and possibly help to finish strong.”

Celia continued, “I don’t think we will see more than four rate hikes— it may be more like three, meaning about a three quarters of 1% hike in interest rates. In the meantime, mortgage rates are going to go up. The National Association of Home Builders Index did drop a point. There is some concern that they could be seeing buyers being priced out of the market with supply chain issues and labor force issues continuing in the housing sector. Now we are seeing interest rates continuing to rise on mortgages. It’s not that big of a deal, but it could get people to pause buying and it could be enough to disqualify some buyers for a new home.”

Celia discusses these and other global and economic headlines on his daily, three-hour Financial Issues program, heard on more than 660 radio stations and several television networks nationwide, including FISM.TV, viewed on several post-cable television platforms and online.

Read more about Celia, FISM and “Financial Issues” or visit the FISM website, its Facebook page, on YouTube at Financial Issues with Dan Celia or on Twitter @financialissues; download the FISM app here.

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To book Financial Issues Stewardship Ministries’ Dan Celia, contact [email protected] or Beth Harrison, 610.584.1096, ext. 105, or Deborah Hamilton, ext. 102.

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