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The Markets as a Predictor

May 8, 2018

If you were looking at the market’s actions heading into a busy first week of May, you would have predicted that the Federal Reserve was going to raise interest rates and we were going to get a “bounce-back” jobs report. Interest rates started rising about two weeks before the Fed was scheduled to meet– and April’s job numbers were going to be released. Thus, even though market analysts were not sold on the prospects of a rate increase, it looked like the markets were hedging their bets.

Astoria-Queens-Mortgage-broker-AmerimutualWith regard to the meeting of the Federal Reserve, the decision to leave interest rates unchanged was not totally unexpected. And it was not surprising that interest rates and stocks did not react much after the announcement. The markets showed indifference to the Fed’s decision on rates, and also their statement regarding the economy. The Fed statement came in pretty much as expected, with predictions of gradual rate increases this year as inflation continues to gradually increase as well. The Fed called the risks to the economy “in balance” — which means that there is an equal risk of overheating vs. experiencing a slowdown.

Regarding the economy, April’s job numbers will obviously influence the Fed when they meet again in mid-June. News of the economy adding 164,000 jobs will be analyzed, as well as the moderate 2.6% increase in wage inflation. It should also be noted that the previous month’s job gains were revised upward by approximately 35,000, making up for the shortfall in jobs added this month when compared to expectations and initially the stock market reacted positively to the news with rates rising again. The headline number of a 3.9% unemployment rate was better than expected and the lowest in almost two decades. The Fed will be able to chew on this report for over a month and will also have May’s numbers in hand before they meet again. As for the markets, expect them to get antsy again as the meeting approaches. That seems to be par for the course.

Source: Origination Pro

Are you searching for a mortgage in the New York City area?  Amerimutual Mortgage  is family-owned and operated local business that is proud to make a difference by matching home buyers with the right mortgage products for their needs.  The company is owned and operated by two brothers, Phil and Benny Loria, in Astoria, Queens NY.   We provide home loans for residential properties and commercial loans for businesses and buildings.   Are you buying a house, multi-family duplex, triplex, quad, or larger apartment building, or commercial real estate in Queens NY, Brooklyn NY, Manhattan NYC?  Call Benny 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.

Queens NY Mortgage Broker

Benny Loria, Esq.

 

Benny Loria, Vice President (NMLS#: 900146)

718-943-9200 Ext. 115

bloria@amerimutualmortgage.com

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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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