This week was another quiet week in economic news.

On Thursday the government revised their Q$ GDP number from 19 to 2.1 – meager but still a light indication of inflationary pressure, which means bad news for fixed rate mortgages.

Friday we got the personal income numbers and they were up .04% with personal spending up 0.1%.  Though higher wages are good we were spending it so the news was interest rate neutral.

In the end, rates came down a little. You’ll notice that the short term rates came down the most (see the 5/1) because of the raising of the prime rate assured at least in the short term, that rates will stabilize a little.

Next week: JOBS JOBS JOBS!