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GDP Growth Revised Down; New Record Low Mortgage Rate: 4.36% – Daily Mortgage Rate Update for August 27th, 2010

August 27, 2010 by · 2 Comments

The Commerce Department announced the first revision of its 2nd quarter GDP results, lowering its earlier estimate for growth to 1.6% from the advanced estimate of 2.4%. This lower revision was still higher than analysts had expected; they had called for a revision down to 1.4%. Many had expected the downward revision after a large number of disappointing economic reports recently.