Economy continues modest growth

Last week’s economic data thankfully came in a bit better than expected. Third Quarter GDP printed above expectations, at 2.8%. The October Employment Report showed nonfarm payroll increased by 204,000 new jobs, almost twice the average forecast. 60,000 new jobs were added to both September and August. Over the past year, job growth has averaged 194,000 a month — a sign the economy continues modest improvement.

 

The effect of this better than expected news:

1)  pushed mortgage rates up rapidly on Friday.

2) Anticipate renewed debate regarding the Fed & tapering.

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About dwdupont

David DuPont leads a team of real estate professionals (The DuPont Group) under the umbrella of Sotheby’s International Realty. In 2008-2010, Dave sold more homes than any other agent in the firm and brings over 15 years of business experiences to bear for the group including real estate transactions, internet marketing, search engine optimization, and finance. From 2011-2013 Dave continued to be a top producer not only in the Sotheby's office but also within the agent community.