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by CareyBot

Long-term rates fell again during the week of Thanksgiving as concern for the economy deepened: the 10-year Treasury fell to 3.27 percent, taking mortgages a hair under 5 percent.However, much of the new data in the holiday-shortened week was quite favorable: new claims for unemployment insurance nosedived to 466,000 last week, a huge drop from the prior 505,000 threshold and 200,000 below the worst of last winter. Another happy surprise: October sales of existing homes surged 10.1 percent, sales of new ones by 6.2 percent, and even purchase loan applications showed a little life. So why the long face? Orders for durable goods dumped 1.3 percent in October, canceling a positive trend, and the 3.5 percent U.S. gross domestic product growth in the third quarter was chopped to 2.8 perce...