Gross Domestic Product (GDP)
Thursday morning has the second revision to the 2nd Quarter Gross Domestic Product (GDP). Since this data is aged now and the preliminary reading of the 3rd Quarter GDP will be released next month, I don't see this revision having much of an impact on the financial markets or mortgage pricing. The GDP is important because it is the total sum of all goods and services produced within the U.S. and is considered the best measurement of economic activity. It is expected to show that the economy grew at an annual rate of 1.3%, up from last month's estimate of 1.1%. The lower the number, the better the news it is for mortgage rates. However, unless there is a significant change in this reading, it likely will not influence mortgage rates.