HM Logo
HM Logo Mark

ICYMI #1 → Series I Bonds, Sky-High Mortgage Rates, and Orangutan NFTs

September 28, 2022

Illustration of ICYMI

Welcome to the first edition of ICYMI: A weekly-ish roundup of finance-related news that matters for you and your money.

The Consumer Confidence Index® increased again

The Consumer Confidence Index® (also known as CCI) is a survey that indicates how optimistic or pessimistic consumers feel towards their expected financial situation. The CCI uses the 1985 report as a baseline for comparison, because consumer confidence (in the 1985 report was even at 100, with consumers not feeling strongly positive or negative. The score is relative, so anything above 100 means consumers feel more optimistic about the economy and anything below 100 means they feel less confident. The CCI increased in September for the second consecutive month and now stands at 108.0; up from 103.6 in August.

Pro tip: There are a ton of factors at play in the economy, and the CCI is just one indicator. But don’t let macroeconomics overwhelm your micro money decisions. Control what you can in your finances and make the best plan for you.  

Series I Bonds are so hot right now

If you’re new to the bonds game, a Series I bond is, “A savings bond that earns interest based on combining a fixed rate and an inflation rate.” According to, “the initial interest rate on new Series I savings bonds is 9.62 percent. You can buy I bonds at that rate through October 2022.” For comparison, from May 2021 through October 2021 the rate was 3.54 percent, and from November 2021 through April 2022 the rate was 7.12 percent. The interest rate changes for Series I bonds occur semiannually.

Pro tip: If this type of asset benefits your money goals, look into it or talk to a financial professional. This type of high interest rate is one of the upsides of the crazy inflation we’re experiencing these days. And be sure to check out as that’s the only legitimate place to purchase these bonds digitally.

The average 30-year mortgage rate is sky-high

The current average 30-year mortgage rate is 6.72 percent. Ouch. There’s no indication of when this rate will start to drop, but the high interest rates are driving housing prices down in some markets. So, if you’re on the hunt for a house – keep scrolling. You might find a gem.

Pro tip: Buying a house is a big financial commitment. In the event that you need to stay put in your current home a bit longer while you wait for rates to cool off, check out our guide to creating a home renovation budget.

Looking to add NFTs to your portfolio?

According to Investopedia, “a non-fungible token (NFT) is a unique cryptographic token that exists on a blockchain and cannot be replicated. NFTs can represent real-world items like artwork and real estate.” So, if you’re looking to add some NFTs to your financial portfolio, now you can buy the first digital art NFT designed by an orangutan. Yes, you read that right. You can buy a piece of digital artwork created by an animal.

Pro tip: A sweet spot for using money as a tool for happiness is finding things or experiences that bring you joy while also adding to your overall financial progress.  

Data featured is as of 27 September 2022