Q3 GDP Nearly Doubles
Growth in the U.S. economy picked up during the third quarter as the gross domestic product from July through September increased at a rate of 2.5%. Nearly double the Q2 reading, and well above the reading from Q1. This represents the fastest growth of 2011, and the largest increase in a year. While this is likely good news for stocks, it could have an affect on home loan rates as money moves out of bonds and into stocks.
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Cindy Bradley Mortgage Team, Cheyenne, Wyoming