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Is March The Month?

February 13, 2024

The Federal Reserve has been quite busy this decade. We started this decade with an economy-halting pandemic in March of 2020. The Fed reacted quickly, pushing short-term rates to zero, as well as adding significant qualitative stimulus in the form of purchasing treasuries and mortgages, further pushing down long-term interest rates as well. Along with massive stimulus packages from Congress, the recession was extremely deep, but also very short-lived.

US Federal Reserve interest rates 2021

The recovery was fast and powerful, but somewhat uneven, as certain parts of the economy were hit harder than others. It was so quick that the Fed was caught stimulating an economy which was already heating up. In their defense, it was not clear when and how the pandemic would end as we still are getting COVID spikes years later. The whole idea of an economy shutting down and then opening back up created much uncertainty on several levels – including how to overcome supply and labor shortages created by this unique situation.

The result? Massive world-wide inflation. In 2022 and 2023, the Fed was busy raising short-term rates and ending their purchases of mortgages and treasuries. Both short-term interest rates and long-term rates skyrocketed as inflation did not react as expected. Interestingly, the economy continued to be strong despite the Fed’s efforts to slow things down. The Fed stopped raising short-term rates over six months ago. Will their next meeting in March be their first move downward? Inflation has come down significantly, but the economic news is still stronger than expected. This contradiction makes March a tough call and the vibes coming from the Fed leads us to believe we will likely have to wait until May. 

Source: Origination Pro

Queens Mortgage Broker

(718) 943-9200

AMERIMUTUAL is an Upfront Mortgage Broker that places a premium on transactional transparency. Our valued clients appreciate this advantageous approach and enjoy the benefits of having a mortgage broker that is fully aligned with consumer interests.

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Testimonials

Eli N

Benny and Phil were great to work with! they assisted us in every aspect of the process even when it wasn’t their job. They explained every step and guided/advised us on the best course of action. Their fees were more than fair and their integrity was at a level far above ANY lawyer or mortgage broker we have ever dealt with.

Joe D.

Philip Loria made the mortgage process quick and easy, and also found ways to save us money. He was always on top of things, very accessible, and his communication is top notch. I will recommend Philip Loria and Amerimutual Mortgage highly to any of my friends, family or colleagues.

Joe D. Long Island, NY
Ninfa Brusca

Philip and Benny Loria were very knowledgeable and professional. They exceeded all our expectations and were a pleasure to work with. They were both were just genuinely nice guys. They listened to all our concerns and did everything in their power to accommodate our needs and make feel comfortable throughout the whole mortgage process. I recommend Amerimutual Mortgage to anyone who is looking for a mortgage.

Ninfa Brusca Tuckahoe, NY
Lenny P., Occupation: Real Estate Development

Richard, I wanted to thank you for all your help and hard work. I am so glad our refinance was a success. You were very diligent and dedicated to getting me the best rate possible. I truly enjoyed working with you and will recommend your services to all our friends and family.

Lenny P., Rye, New York
Nick Tsatsaronis

Philip Loria, assisted me with my refinance. Thank you so much for all of your time and hard work. You made refinancing my house easy and stress free. I wouldn’t recommend anyone else. I will definitely use Amerimutual Mortgage for any future needs, and recommend them to anyone who needs a mortgage.

Nick Tsatsaronis Flushing, NY
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