True Stories: Hybrid, eNote and RON Implementation

Join expert panelists that will discuss the status of federal legislation, trends in digital adoption and how best to prepare your organization for the next generation of lending processes.

Logan Mohtashami talks jobs report, mortgage forbearance

Lead Analyst Logan Mohtashami discusses his recent article on the latest jobs report and the most likely impact on the housing market and mortgage forbearance.

UWM has a plan to win a war of mortgage attrition

UWM's margins will fall all the way down to 75 to 110 bps. Mat Ishbia says it's the perfect environment to prove that his mortgage firm is truly elite.

Lunch & Learn about underserved markets and affordable housing

Experts in this discussion will focus on how the mortgage industry is working to right previous wrongs and champion a housing market that serves all.


GDP increased to fastest growth in two years

Third estimate places growth higher than originally thought

The third estimate of the nation’s gross domestic product was released today, showing an even stronger third quarter than experts predicted in their last estimate, increasing to the fastest quarterly growth in two years.

According to the third and final estimate before annual revisions in July, real GDP increased by 3.5% in the third quarter, up significantly from the second quarter’s increase of 1.4%, according to the report from the U.S. Bureau of Economic Analysis.

The GDP estimate released today is based on more complete source data than were available for the second estimate issued last month, which said GDP increased by 3.2%.

With this third estimate for the quarter, nonresidential fixed investment, personal consumption expenditures and state and local government spending increased more than previously estimated, however the general picture of economic growth remains the same.

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(Source: U.S. Bureau of Economic Analysis)

Real gross domestic income increased by 4.8% in the third quarter, up from the increase of just 0.7% in the second quarter. The previous estimate stated real GDI increased by 5.2%.

Here are other updates to the previous estimate:

Current-dollar GDP: Increased by 5%, up from the previous estimate’s 4.6%.

Average of real GDI and real GDP: Increased by 4.1%, down slightly from the previous estimate’s 4.2%.

Gross domestic purchases price index: Remained the same as the last estimate at an increase of 1.5%.

Personal consumption expenditures: Increased by 1.5%, up slightly from last estimate’s 1.4%.

The strong GDP supports the Federal Reserve’s current direction which, after raising rates in December, hinted that it could raise them several more times next year.

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