- Real GDP increased at an annual rate of 2.9% in the third quarter of 2016, after increasing 1.4% in the previous quarter, according to the “advance” estimate released by the Bureau of Economic Analysis.
- Real final sales of domestic product increased 2.3%, following a 2.6% increase in the previous quarter.
- The price index for gross domestic purchases increased 1.6% in the third quarter, compared to an increase of 2.1% in the previous quarter.
- The advance figure for initial claims for unemployment insurance was 258 thousand in the week ending October 22, a decrease of 3 thousand from the previous week’s revised level. The 4-week moving average was 253 thousand, an increase of a thousand from the previous week’s revised average.
- The results of Freddie Mac’s Primary Mortgage Market Survey showed mortgage rates slipping from last week’s spike. 30-year fixed-rate mortgage averaged 3.47% for the week ending October 27th, down from last week when it averaged 3.52%. A year ago at this time, the 30-year fixed-rate mortgage averaged 3.76%.
- Mortgage applications decreased 4.1% from a week earlier, according to data from Mortgage Bankers Association’s (MBA) Weekly Applications Survey for the week ending October 21st.
- The Thomson Reuters/University of Michigan Index of Consumer Sentiment decreased to 87.2 in October, from 91.2 in September.
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