It’s the height of summer, and the weather, politics, and tech all seem to have pushed rates and the economy out of the headlines.
The economic news is mixed, with stronger-than-expected retail sales and rising unemployment claims. As inflation falls, real interest rates – that is, interest rates after allowing for inflation – are up, too, and continue to dampen the economy, even without any action by the Fed. As inflation appears to be cooling and the labor market softens, a rate cut in September is looking more likely. We are all waiting expectantly.
Here at AGM, we are still getting commitments for new projects, working on refinancing existing projects, and closing deals. As it is across the industry, business is slow, but we are planning for the upturn next year.
As part of that plan, we’re gearing up here at home. Stay tuned for announcements about our new website, new hires, and new markets. In the meantime, enjoy the rest of your summer, and get ready for good things to come!
Please schedule a call if you have questions or want to discuss your next project.
About AGM Financial
Founded in 1990, AGM is a leading FHA lender and GNMA seller/servicer. From new construction and substantial rehab to acquisition or refinance — for both market-rate and affordable projects — AGM gets the deal done. Family-owned with over 30 years of experience, the firm has closed over $10 billion in FHA-insured multifamily project loans nationwide. We underwrite, fund, and service all of our loans. Developers and owners can count on AGM to be accessible, transparent, consistent, and ready to lend. From new construction to substantial rehabilitation to acquisition and refinance — for both market-rate and affordable projects — we can get the deal done. To learn more about AGM, call 800.729.4266 or visit agmfinancial.com.
