How did mortgage rates react to GDP data?

Real estate agent greeting a couple with a handshake | mortgage rate news

Mortgage rates slightly lower after GDP release

The national average for a 30-year, fixed-rate mortgage rate ended down 0.01% to 7.15%*.

The final GDP data for Q4 2023 was released and it was a fairly positive report. It didn’t have a bigger impact on the bond market or the mortgage rate market because the GDP report details what happened almost two months ago.

Most reports detail what happened as opposed to what’s happening or what will happen, but the GDP report is one of the more out of date reports that we get. It’s not a surprise that it didn’t have a bigger impact on the current markets.

How much value has the U.S. housing market gained?

According to a recent report from Redfin, the total value of homes in the U.S. has gained over $2.4 trillion over the past year. The total value is a cool $47.5 trillion. That’s up over 5% year-over-year.

The report cited three reasons for the increase. First, there’s still a shortage of homes for sale and that’s driving value up. Second, high prices have remained sticky and avoided seasonal cooling. Finally, more homes are getting built.

Redfin Economics Research Lead Chen Zhao stated, “America’s homeowners are sitting pretty. They’re holding a massive amount of housing wealth, despite lackluster demand from buyers, because home values skyrocketed during the pandemic and now a supply shortage is preventing those values from falling.”

What does it cost to live like an NBA champion?

Los Angeles Clippers star forward Kawhi Leonard has listed his downtown L.A. penthouse. Located at Ritz-Carlton Residences at L.A., the three bedroom, 3.5-bath penthouse is only minutes from Arena.

The 4,300 sq. ft. unit offers city views and gorgeous interior design with glass walls and wood floors throughout. The penthouse comes with two fireplaces, a huge kitchen island and iPad-controlled lighting and shades.

The listed price tag to live in Kawhi Leonard’s home? Only $6.5 million.

* National average rates accurate as of 2/28/24 from and are not advertised rates from Guaranteed Rate.


in 10 minutes?

The pre-approval process is lightning fast, and can be completed
in under 10 minutes. Grab a few important documents to get started.
  1. Tax Returns
  2. Copies of W-2s (or 1099s for independent contractors,
    freelancers and the self-employed)
  3. A payroll stub
  4. A bank statement
  5. Loan obligation info (student loans,
    auto loans and credit cards)

Applicant subject to credit and underwriting approval. Not all applicants will be approved for financing. Receipt of application does not represent an approval for financing or interest rate guarantee. Restrictions may apply. 

All information provided in this publication is for informational and educational purposes only, and in no way is any of the content contained herein to be construed as financial, investment, or legal advice or instruction. Guaranteed Rate does not guarantee the quality, accuracy, completeness or timelines of the information in this publication. While efforts are made to verify the information provided, the information should not be assumed to be error-free. Some information in the publication may have been provided by third parties and has not necessarily been verified by Guaranteed Rate. Guaranteed Rate its affiliates and subsidiaries do not assume any liability for the information contained herein, be it direct, indirect, consequential, special, or exemplary, or other damages whatsoever and howsoever caused, arising out of or in connection with the use of this publication or in reliance on the information, including any personal or pecuniary loss, whether the action is in contract, tort (including negligence) or other tortious action.