From Matthew Graham at Mortgage News Daily: Rates Start High, But Improved Significantly By The Afternoon
Click on graph for larger image.
2022 has been the year of volatility for mortgage rates with most of the swings resulting in successive runs to long-term highs. Every now and then, however, rates have a good day. Today was one of those days. [30 year fixed 5.52%]
emphasis added
Tuesday:
• At 6:00 AM ET, NFIB Small Business Optimism Index for April.
• At 11:00 AM, NY Fed: Q1 Quarterly Report on Household Debt and Credit
On COVID (focus on hospitalizations and deaths):
| COVID Metrics | ||||
|---|---|---|---|---|
| Now | Week Ago |
Goal | ||
| Percent fully Vaccinated | 66.3% | — | ≥70.0%1 | |
| Fully Vaccinated (millions) | 220.2 | — | ≥2321 | |
| New Cases per Day3🚩 | 66,564 | 58,569 | ≤5,0002 | |
| Hospitalized3🚩 | 12,466 | 11,823 | ≤3,0002 | |
| Deaths per Day3 | 323 | 324 | ≤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.
New cases have more than doubled from the recent low, and hospitalizations are increasing week-over-week.
Average daily deaths bottomed in July 2021 at 214 per day.