According to a recent report from the Federal Reserve Bank of Chicago, U.S. economic activity in July expanded at a rate above its historical trend. While Fed Chairwoman Janet Yellen continues to outline positive news in the job market as support for the Fed increasing rates, the bond market remained relatively unchanged on Monday. 30-year fixed rates remain at around 4.125% while 15-year rates average 3.25%.
And now for something, completely different: Did you know that the average American is more than $200,000 in debt? And to top that, most Americans have less than $500 in savings.
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This is Mehran Aram with today's ARAMCO Report.