Thursday and Friday weren’t great days for the mortgage market last week. … One business day later, and lenders are closer to territory from the first 3 days of last week. This is roughly an eighth of a percentage point lower than Friday’s rates fore most lenders (i.e. 5.375% instead of 5.5%). As always, these rates may not apply to every scenario and the best way to use this data is for the purpose of tracking day-over-day changes. [30 year fixed 5.32%]
emphasis added
Tuesday:
• At 8:30 AM ET, Durable Goods Orders for March from the Census Bureau. The consensus is for a 1.0% increase in durable goods orders.
• At 9:00 AM, S&P/Case-Shiller House Price Index for February. The consensus is for a 18.4% year-over-year increase in the Comp 20 index for February.
• Also at 9:00 AM, FHFA House Price Index for February. This was originally a GSE only repeat sales, however there is also an expanded index.
• At 10:00 AM, New Home Sales for March from the Census Bureau. The consensus is for 762 thousand SAAR, down from 772 thousand in February.
• Also at 10:00 AM, Richmond Fed Survey of Manufacturing Activity for April.
On COVID (focus on hospitalizations and deaths):
| COVID Metrics | ||||
|---|---|---|---|---|
| Now | Week Ago |
Goal | ||
| Percent fully Vaccinated | 66.1% | — | ≥70.0%1 | |
| Fully Vaccinated (millions) | 219.4 | — | ≥2321 | |
| New Cases per Day3🚩 | 44,416 | 36,209 | ≤5,0002 | |
| Hospitalized3 | 9,518 | 9,754 | ≤3,0002 | |
| Deaths per Day3 | 314 | 362 | ≤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 deaths reported.
Deaths are declining week-over-week, but new cases are increasing.
Average daily deaths bottomed in July 2021 at 214 per day.