The holiday feeling is stirring in the air and in shopping centers everywhere. Due to another holiday shortened week, there will be plenty of economic reports and news events that will keep home shoppers on the edge of their seat.

Monday will start with October's Existing Home Sales and expectations are for signs of more improvement as this will reflect all the completed purchases that went under contract back in June and July.

All eyes on Tuesday will be on the revision to 3rd Quarter Gross Domestic Product (GDP). Initially reported at a blistering 3.5% growth rate, it is expected that GDP growth will be revised downward to 3.0%. This will be important as it calms the fear of hyper-inflation jumping back into the economy. Also on Tuesday will be the release of November's Consumer Confidence Index (CCI), which provides insight on consumers willingness to spend. 

Wednesday will be an all out media frenzy with 7 economic reports on tap. The most important of these will be October's Durable Goods Orders, October's Personal Income and Outlays, November's University of Michigan Consumer Sentiment, and October's New Home Sales.

Let's not forget about the massive amount of new treasury notes to be auctioned this week. There will be a record $44 Billion of 2-Year Notes on Monday, $42 Billion of 5-Yearson Tuesday and $32 Billion of 7-Years on Wednesday.

Although the stock markets will be open on Friday, the markets will close early and light volume will be expected due to many traders who will take an extended 4-day retreat to celebrate the Thanksgiving holiday.

Home loan shoppers and retirement funds will continue their battle for investment dollars from abroad and here in the US. As-is the par for the course, good economic news will favor the stock market and take money away from mortgage bonds which will result in higher mortgage rates. Conversely, bad economic news will drive investors into the safety of bonds which will help home buyers with lower mortgage rates.

Want to see what other economic reports might impact home buyers in the coming week? Stop by and check out the Financial Market Update Provided to You Exclusively by The Barath Group.

This Is The Week Ahead for November 22nd.