From Matthew Graham at Mortgage News Daily: Mortgage Rates in a Lull After January’s Rapid Rise
Click on graph for larger image.
… we’re in a holding pattern … As for today itself, most lenders offered just slightly lower rates compared to last Friday, but still well within the range seen last week. [30 year fixed 3.68%]
emphasis added
Tuesday:
• At 8:00 AM ET, Corelogic House Price index for December.
• At 10:00 AM, Construction Spending for December. The consensus is for a 0.6% increase in construction spending.
• Also, at 10:00 AM, Job Openings and Labor Turnover Survey for December from the BLS.
• Also, at 10:00 AM, ISM Manufacturing Index for January. The consensus is for the ISM to be at 57.5, down from 58.8 in December.
On COVID (focus on hospitalizations and deaths):
| COVID Metrics | ||||
|---|---|---|---|---|
| Now | Week Ago |
Goal | ||
| Percent fully Vaccinated | 63.8% | — | ≥70.0%1 | |
| Fully Vaccinated (millions) | 211.8 | — | ≥2321 | |
| New Cases per Day3 | 497,296 | 680,381 | ≤5,0002 | |
| Hospitalized3 | 126,699 | 145,610 | ≤3,0002 | |
| Deaths per Day3🚩 | 2,234 | 2,023 | ≤502 | |
| 1 Minimum to achieve “herd immunity” (estimated between 70% and 85%). 2my goals to stop daily posts, 37-day average for Cases, Currently Hospitalized, and Deaths 🚩 Increasing 7-day average week-over-week for Cases, Hospitalized, and Deaths ✅ Goal met. |
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Click on graph for larger image.
This graph shows the daily (columns) and 7-day average (line) of positive tests reported.
New cases and hospitalizations are now declining.
Unfortunately, deaths are still rising, but well below the previous 7-day average record of 3,421 in January 2021.