This week's mortgage market update contains:

• U.S. consumer confidence crumbles
• Decline in growth predicted for Canada
• Stocks advance on U.S. economic growth

This week's highlights:

• Canada's current account surplus widens unexpectedly
• U.S. growth beats market expectations

This week's Quote:

If money is your hope for independence you will never have it. The only real security that a man will have in this world is a reserve of knowledge, experience, and ability. - Henry Ford

Weekly Articles of Interest

U.S. consumer confidence crumbles
ANNE D'INNOCENZIO
Nov 28, 2006 14:08 | torontostar.com
NEW YORK â€" Three pillars of the economy â€" consumer confidence, orders ..... January on expectations that a slowing economy may force the Federal ..... slump could further complicate matters for the economy. In his first
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Decline in growth predicted for Canada
Nov 29, 2006 01:00 | Toronto Star
for Economic Co-operation and Development says. "The economy is expected ..... is likely to be short-lived with the economy subsequently growing
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Stocks advance on U.S. economic growth
MALCOLM MORRISON
Nov 29, 2006 11:44 | thestar.com
Wednesday morning. A report showing the U.S. economy grew at a 2.2 per cent ..... from the first and second quarters. "With a slowing economy, there is less risk of rates going up rather than a fast growing economy
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This Week's Highlights

• Canada's current account surplus widens unexpectedly
• U.S. growth beats market expectations

The preliminary GDP report for the third quarter showed that real GDP grew at an above-consensus 2.2% annual rate, previously reported at 1.6%, and only slightly slower than the second-quarter’s 2.6% rate. This report will weigh on bonds and be dollar-positive. Consumer spending slowed from its advanced estimate, growing 2.9% and contributing 1.99 percentage points to growth (previous 3.1%/2.13 percentage points).

The preliminary GDP report for the third quarter showed that real GDP grew at an above-consensus 2.2% annual rate, previously reported at 1.6%, and only slightly slower than the second-quarter’s 2.6% rate. This report will weigh on bonds and be dollar-positive. Consumer spending slowed from its advanced estimate, growing 2.9% and contributing 1.99 percentage points to growth (previous 3.1%/2.13 percentage points).

The deficit on the investment income account narrowed on the back of an increase in profits earned by Canadians on investments abroad. Canadians also saw the interest received on foreign bonds and money market investments rise in the third quarter in line with the increase in their holdings of those instruments during the quarter. Foreign direct investment into Canada increased as a result of a large acquisition of a Canadian firm, Stats Canada reported. The narrowing in the goods trade surplus points to net trade continuing to act as a modest drag on third-quarter GDP growth.