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The Speculation Will End

December 13, 2016.

The speculation will end. Almost. While most everybody is expecting an increase in short-term rates by the Federal Reserve Board’s Open Market Committee, there are two questions that remain. First, by how much will the Fed raise rates? If you have asked this question just a month ago, the prevalent answer would have been 0.25%. But with rates going up sharply since the election, the question should be asked whether the Fed will make a move of 0.5%. While the current evidence of inflation does not seem to warrant such an increase, the reaction of the markets to the election leaves the door open for a larger move without shocking the markets.

The second question is–where does the Fed lead us from here? While a rate increase will not come as a shock, the Fed can still roil the markets with incendiary language attached to their post meeting announcement. Or they can calm the markets down with assuring verbiage instead. That calm statement could help rates ease a bit. As we have said many times, the words of the organization can be much more important than their actions, especially when the actions are expected.

Keep in mind that the Fed is reacting to economic numbers, not an election. As Janet Yellen reminded everyone after the election, though the chairperson is appointed by the President, she cannot be removed by the President and she is intending to serve out her full four-year term. Therefore, the jobs numbers released earlier this month should theoretically carry more weight than the rate spike since the election. One should remember that the rate spike is more a function of speculation as to what the new Administration will do, not what has already taken place. Of course, it is not unusual for markets to react to speculation.

Source: Origination Pro

 

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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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