Some Good News For A Change!

I was amazed today to pull up the news online today and I found a lead story that was POSITIVE! 2nd Quarter Gross Domestic Product (GDP) was revised today and it showed that our economy had much better growth during the quarter than previously thought. GDP is the broadest measure of our economic activity and it stood at 3.3%. Growth between 2.5-3.5% is typically seen as healthy. This is way above expectations! This growth was helped in part by the economic stimulus that was pumped into the economy and by solid demand for U.S. Exports.

It has also been mentioned that inflation is in check for the most part. It is just slightly higher than what the FED typically likes to see. Hopefully we can keep it this way.

How does all of this impact the real estate world? Well not much at this point, but it is still positive information. However, these types of stories greatly impact traders like or dislike for mortgage bonds. This does impact the mortgage world in the form of mortgage rate changes!
I for one would like to see items like this focused on a bit more than the gloom and doom stories we typically see. We hate relaying all the bad news to our readers, but lately it seems like that is all there is. To say the least, this was a breath of fresh air. Even though it isn't like it is monumental news.
Lets just take this positivity into the Holiday Weekend. PMG wishes everyone a fun and safe Holiday! Oh and GO TIGERS!

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