Weekly Information 10/29

Mortgage interest rates were flat on the week as economic data was slightly better than expected. September Existing Home Sales and New Home Sales were better than expected. Increases in existing home sales were largely driven by the expiring tax credit. October Consumer Confidence, September Durable Goods Orders, and the October Chicago Purchasing Managers Index were slightly better than expected. Weekly jobless claims fell more than expected. The Q3 Advance GDP report showed that the economy grew at an annual rate of 2.0%, in line with expectations. The University of Michigan Consumer Sentiment Index fell to 67.7, its lowest level since November of 2009. The Treasury auctioned $99 billion in 2 Year, 5 Year, and 7 Year Notes, which was met with mixed demand.