The Gross Domestic Product (GDP) increased by 5.2%. Why does this matter? The data from the July to September period serves as another indicator pointing to a booming or robust economy, defying gloomy warnings of a slowdown.

GDP measures the value of the final goods and services produced in the United States.

What else is going on? The Q3 data reflects stronger spending by corporations. It also shows increased state and local government spending and imports.

Here’s the kicker: Gross Domestic Income (GDI) increased rapidly compared to the second quarter, with GDP increasing by 1.5%, a full percentage point above the last quarter.

GDI stands for Gross Domestic Income, representing the total income generated by all sectors of an economy within a specified time period. This includes employee wages, profits from businesses, taxes, and costs incurred in production.

How does this affect mortgage rates? Surprisingly, bond market yields have been dropping, as have rates.