Household debt balances set a record high of $17 trillion during the first quarter. Of that 17 trillion, about 1 trillion is in credit card debt. This is pointing to strong signs of economic trouble ahead. With people struggling to pay the their bills, the feds still haven't committed to lowering rates yet. The saving grace is that most Colorado homeowners have wealth in the form of home equity. If you need to consolidate your debt to lower your monthly bills, reach out to see if a debt consolidation refinance makes sense. This can be a temporary relief until rates come down to refinance your rate back down.