Real gross domestic product increased at an annual rate of 3.1% in the third quarter of 2024, according to the Commerce Department’s third estimate. GDP increased 3% in Q2. The update primarily reflected upward revisions to exports and consumer spending that were partly offset by a downward revision to private inventory investment. Imports, which are a subtraction in the calculation of GDP, were revised up.
ABA DataBank: Existing home sales fell in October
Despite rising inventory, home prices continue to rise. For banks, continued weakness would likely keep mortgage originations, refinancing activity, and related fee income muted.









