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It is 2023!

January 3. 2022

There are so many questions at the beginning of every year. For one, how long will it take for us to stop writing or typing 2022? Secondly, from that famous Seinfeld episode—for how long will we wish everyone a Happy New Year? Do we stop January 31st or later? Here is another – how long will it be until we can stop worrying about COVID? Believe it or not, the pandemic started just about three years ago. In early 2020, who thought we would still be dealing with COVID in 2023?

Queens-NY-real-estate-loans-2023-interest-rates

On the economic side, will there be a recession in 2023? All year we have been hearing predictions regarding a coming recession caused by higher interest rates. Yet, the economy has not been showing signs of a recession other than the slowdown in the real estate sector. Generally, the economy follows real estate. Therefore, if the real estate market bounces back this spring, we are less likely to see a recession. On the other hand, if rates stay stubbornly high and real estate sales continue to lag, that increases the risk of a recession significantly.

This week we will see the jobs report for December. Thus far, the job creation machine has hummed throughout 2022. Next week the December inflation numbers will be reported. A bit of a slowdown in job creation, wage inflation, and the overall inflation picture, would do a lot to bring us some better interest rate news. And lower long-term interest rates would be a big factor in bringing back buyers and sellers to the real estate market.

Source: Origination Pro

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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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