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In this Real Estate News Brief for the week ending October 29th, 2022... a turnaround for the U.S. GDP, a new high point for mortgage rates, and faltering rent growth. Hi, I'm Kathy Fettke and this is Real Estate News for Investors. If you like our podcast, please subscribe and leave us a review. Economic News We begin with economic news from this past week, and an encouraging report on the U.S. GDP. The government reported a 2.6% growth rate in the third quarter. It was better than the Dow Jones forecast of 2.3%, but is also thought to be a rebound from two quarters of negative growth. According to CNBC, the upside came from a decline in the trade deficit, along with stable consumer spending, higher government spending, and a rise in nonresidential fixed investment. (1) A positive GDP isn’t eliminating concerns about a recession, especially if the Fed continues to aggressively raise interest rates to fight inflation. The PCE, which is the Fed’s preferred inflation gauge shows a .5% increase in September, to