Mortgage Update for October 26, 2012This morning saw two relatively positive reports come out. The markets had little reaction to this data, as they continued to monitor the equity markets and the situation in Europe for any new information that might provide more insight into the situation there.

 GDP and Consumer Sentiment Data Released

The first report was the release of the 3rd Quarter Gross Domestic Product (GDP) that showed the economy grew at an annual pace of 2.0% in the last quarter. This number came stronger than the 2nd quarter number of 1.3% and higher than the market expectation of 1.9%. The GDP is important to market watchers because it is the market value of all officially recognized final goods and services produced within the United States in a given period.

This morning also saw the University of Michigan’s revision of their Index of Consumer Sentiment for October come in at 82.6, down from the initial estimate of 83.1. This data saw very little reaction in the markets.

Where Are Mortgage Rates Now? Should I Lock?

We could put current mortgage rates here, but chances are that they will have changed by the time you’re reading this since they can change several times throughout the day. To get the latest mortgage rate updates, feel free to request a FREE mortgage rate quote or call us directly.

We can also help you understand which programs are available and which one might make the most sense for your needs. We can put together a mortgage strategy that makes the most sense for your unique financial needs and scenario.