The GDP growth rate, together with the national unemployment rate for October that will be announced Friday, are key numbers that could affect the timing of the Federal Open Market Committee's timing for the eventual curtailment of "QE3" bond purchases by the Federal Reserve.

The Fed has been purchasing a net $45 billion in long-term U.S. Treasury securities and $40 billion in long-term agency mortgage-backed securities each month since September 2012, in an effort to hold down long-term interest rates.

RELATED STORIES:





-- Written by Philip van Doorn in Jupiter, Fla.

>Contact by Email.

Philip W. van Doorn is a member of TheStreet's banking and finance team, commenting on industry and regulatory trends. He previously served as the senior analyst for TheStreet.com Ratings, responsible for assigning financial strength ratings to banks and savings and loan institutions. Mr. van Doorn previously served as a loan operations officer at Riverside National Bank in Fort Pierce, Fla., and as a credit analyst at the Federal Home Loan Bank of New York, where he monitored banks in New York, New Jersey and Puerto Rico. Mr. van Doorn has additional experience in the mutual fund and computer software industries. He holds a bachelor of science in business administration from Long Island University.

If you liked this article you might like

Mortgage Payments Could Be Hurt by Harvey's Impact on Houston

Fannie Mae: 36,583 Homes it Covers are in Harvey's Path

Fannie Mae and Freddie Mac Would Be Privatized Under Proposed House Budget

RBS Agrees to $5.5 Billion Fine in Pre-Crisis Mortgage Probe