From Matthew Graham at Mortgage News Daily: Mortgage Rates Slightly Lower to Begin The Week
After rising above 6% in June and falling briefly below 5% by August 1st, mortgage rates have been calming down and staying slightly flatter in the big picture. Last week’s highest levels were seen on Thursday afternoon or Friday morning depending on the lender. Today’s rates are back down to the levels seen earlier in the week. [30 year fixed 5.25%]
emphasis added
Tuesday:
• At 8:30 AM ET: Housing Starts for July. The consensus is for 1.540 million SAAR, down from 1.559 million SAAR in June.
• At 9:15 AM, The Fed will release Industrial Production and Capacity Utilization for July. The consensus is for a 0.3% increase in Industrial Production, and for Capacity Utilization to increase to 80.1%.
On COVID (focus on hospitalizations and deaths):
| COVID Metrics | ||||
|---|---|---|---|---|
| Now | Week Ago |
Goal | ||
| New Cases per Day2 | 95,209 | 114,409 | ≤5,0001 | |
| Hospitalized2 | 32,099 | 37,287 | ≤3,0001 | |
| Deaths per Day2 | 411 | 4369 | ≤501 | |
| 1my goals to stop daily posts, 27-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.