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First Team’s Weekly Mortgage Watch (November 29th, 2015) this week highlights the following updates:
- Mortgage rates continued to drift sideways last week, with mixed economic news providing little clarity or predictive insight into the next, heavily-discussed, Federal Reserve meeting.
- On the positive side, third quarter GDP was adjusted upward to 2.1%. While this does represent growth, it is still only half of last quarter’s strong 3.9%, and below the economy’s theorized “natural” growth rate of 2.6%.
- New Home Sales rebounded a strong 10.7%. However, on a more somber note, Consumer Confidence dropped back, giving some pause to hopes for a strong Christmas shopping season.
- This week, the spotlight is on the