Consumer Spending Lifts Economy

Friday, Jul 26, 2019 By HomeLoan123.

While there were some significant economic events this week, they held few surprises, and mortgage rates ended with little change.

Gross Domestic Product (GDP), the broadest measure of economic activity, revealed modestly stronger than expected growth of 2.1% during the second quarter, but was down from a rate of 3.1% in the first quarter. While the report caused some volatility on Friday, it was pretty close to the expected levels overall, and it had little lasting effect …