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Quiet Period?

October 22, 2024

Before every meeting of the Federal Reserve there is a blackout period in which the members have to refrain from talking to the public and the media regarding the state of the economy and their policies. This particular blackout period, which starts in a few days, takes on special importance because it is also the period before the election. With so much noise going on during the next two weeks, any organization being quiet will be something of a pleasure.

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

However, we should not lose sight of the fact that the Fed meets right after the election with a potential rate-cut in the cards. And as close as the election is predicted to be—there is a chance that a winner will not be known as the meeting progresses. There may be counting of ballots still occurring. The Federal Reserve prides itself on being “non-political” and therefore, the results of the election should not affect their decision on rate policy one way or the other.

There will be some important data released before all this happens. First, we should see the advanced reading of economic growth for the third quarter. We had solid growth in the first half of the year and any sign of weakness could solidify the case for another rate cut. We will also see reports on personal income, spending and personal expenditure inflation for September. Then comes the election just before the Fed meets. And the data does not stop there, as at the end of the first week of November we will have the October jobs report. 

Source: Origination Pro

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

Queens Mortgage Broker

As a respected leader in the NYC, New York lending business, AMERIMUTUAL has been successful in revolutionizing the industry one mortgage at a time. Our company values are grounded in the principles of honesty and fair dealing.  For you, this means responsible lending with reasonable fees and you can enjoy a worry-free lending experience from a local Astoria, NY business you can trust.

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.

Review our A+ Rating and information on file with the Better Business Bureau.

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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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