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New Year Jobs Report

January 8, 2019

Actually, the data is from 2018, but it is the most significant data thus far released in 2019. On Friday, the jobs numbers showed the addition of 312,000 jobs last month, more than making up for a miss the previous month. In addition, the previous two months’ numbers were revised upward by well over 50,000 jobs. All in all, 2018 was another good year for jobs growth, with more jobs added than the previous year. This strength is reflected in the unemployment rate which finished the year at 3.9%. This is close to the lowest rate in nearly 50 years, with the uptick from 3.7% last month attributed to more Americans entering the work force.

Also important was the release of wage inflation data. Wages were up 0.4% for the month and 3.2% for 2018, higher than expected. The increase in jobs and in wage growth have contributed to the decision of the Federal Reserve Board to raise rates more rapidly in 2018, compared to the previous few years. And we are seeing just how important interest rates are when it comes to the economy and every-day decisions by consumers. Higher rates certainly have contributed to the increased volatility and downtrend in stocks during the latter part of 2018.

The increase in rates is also being cited as a factor with regard to predictions for slower economic growth this year. What is interesting to see is, as the stock market has declined, long-term rates and oil prices have also dropped as well. Thus, we might be seeing an economy which is self-correcting. If a slowdown occurs because of higher rates, that slow down can cause rates to ease in turn. Does that mean the economy will pick up more than expected in 2019? More jobs might be a sign that additional growth is in the cards. Stay tuned….

Source: Origination Pro

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Searching for a home loan or business loan for a commercial property in Queens, Brooklyn or NYC NY?  Amerimutual Mortgage  is a local business that is owned and operated by two brothers who are proud to make a difference helping their community in Astoria NY.  By matching home buyers with the right mortgage products for their needs, Benny and Phil Loria provide vital loan lending services to the real estate community of New York City.   Amerimutual Mortgage provides home loans for residential properties and commercial loans for business men and women who might be buying buildings, warehouses or retail store locations.   They also provide loans for real estate investors who may be buying multi-family duplex, triplex, quad, or high-rise apartment building.  Call Benny Loria at (718) 943-9200 to discuss your options for residential or commercial real estate loans, or assessing value and returns on real estate investment property in New York City and surrounding boroughs of Queens NY, Brooklyn NY, Staten Island NY, Bronx NY.  Or, you can even apply for a mortgage online.

Queens NY Mortgage Broker

Benny Loria

Benny Loria, Esq.

Benny Loria, Vice President (NMLS#: 900146)

718-943-9200 Ext. 115

bloria@amerimutualmortgage.com

Amerimutual Mortgage

Local neighborhood mortgage loan experts.  We live and work in Astoria, Queens NY and are dedicated to seeing our community grow and prosper.

AMERIMUTUAL MORTGAGE (NMLS# 148447) Address: 18-33 41st Street, 2nd Floor, Astoria, NY 11105   Tel: (718) 943-9200   Fax: (718) 204 – 0657

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Testimonials

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.

Tuckahoe, NY

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.

Long Island, NY

Lenny P.

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.

Rye, New York
Occupation: Real Estate Development

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.

Flushing, NY

Vincent M.

I can’t express enough my gratitude to Richard Jamesley for walking me through the whole refinance process and keeping me informed every step of the way. Richard explained every step in detail, was very communicative, diligent, and prompt. We would definitely recommend you to our friends & anyone needing a mortgage.

Whitestone, NY
Occupation – Contractor

Dominick P.

Being a first time home buyer, the process was very foreign to me. Richard Jamesley could not have been more helpful and patient along the way. He explained every step in detail, was professional, straight to the point, and helped me with all aspects of buying my home. He was always there to answer any of my questions. Not only did he make the process quite easy , he helped to get me a great interest rate. I recommend Richard Jamesley without reservation. Amerimutual Mortgage will be my first and only call if I buy another house.

Bayville, Long Island, NY

Salvatore L.

Philip, I would like to thank you for carefully walking me through the loan process and calming my fears and uncertainties. Philip was very professional and his expert advice was critical to my success. You went above and beyond and kept me well informed. I highly recommend you and your company to everyone seeking financing for their property.

Beechhurst, NY
Occupation – Real Estate Manager

Rocco Buffolino

As a first time home buyer it was nice to have people as helpful as Philip Loria and Benny Loria. Our experience was wonderful. Philip was very knowledgeable, professional, and demonstrated an expertise which put us at ease during the purchase of our home. He took the time to answer all our questions and we feel he went above and beyond for us. I highly recommend Amerimutual Mortgage.

Westbury, New York

Carol Gudura

Richard Jamesley was a pleasure to work with. He is very smart, helpful and just willing to help in any way he could. Richard helped walk me through each step of the process and kept me well informed. He is a true asset to you company.

Malba, NY

George Poulakis

My refinance experience with Amerimutual Mortgage and their affiliates was above expectations.  Amerimutual Mortgage knows what they are doing and provides excellent customer service. Thank you all so much for all of your time and hard work.

College Point, New York
Occupation – Electrician

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.

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