"The first estimate of third quarter economic growth showed a strong pace of 4.9%, more than twice the rate of growth than is likely to be sustainable over time. As always, this estimate will be revised over the next two months as more data come in." --MBA Senior Vice President and Chief Economist Mike Fratantoni, discussing the U.S. Commerce Department's third-quarter GDP growth report

Homebuyer affordability improved slightly in September, with the national median payment applied for by purchase applicants decreasing to $2,155 from $2,170 in August.