October 30, 2018
It will likely be a very busy end of the year and this current period will significantly contribute to that forecast. Last week we had the first reading of economic growth for the third quarter and minutes released from the last meeting of the Federal Reserve Board’s Open Market Committee. Those minutes showed that the Fed is committed to their “gradual” rate increases, despite pressure from the Administration. This week we have a jobs report which will be the first reading of fourth quarter data and next week we have a little event called the “mid-term” elections in which the balance of power within Congress is up for grabs.
It is no wonder that the stock market has been extremely volatile in the past couple of weeks. Rising interest rates have been driving stocks downward, while excellent corporate earnings reports have been providing quite a lift. Corporate profits are up this year, not surprising with the economy strong. We seem to be experiencing a tug of war–one that has actually kept the markets’ overall progress fairly limited this year.
We believe that we will know a lot about where the economy stands by the end of the fourth quarter. Some are predicting a slowdown in 2019, as the economy starts to run out of steam after a long run. Higher interest rates and the waning effects of tax reform are cited to buttress that position. On the other hand, additional prognosticators are predicting that the economy still has the steam to grow at a good pace for another few years. It will be interesting to see how a busy fourth quarter may affect these forecasts.
Source: Origination Pro
Are you buying a home or business 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.
Benny Loria
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.
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