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From Matthew Graham at Mortgage News Daily: Mortgage Rates Spiking at Fastest Pace in a Long Time
This morning’s additional weakness in the bond market brings the average conventional 30yr fixed scenario closer to 3.625% (as always, rate quotes depend on multiple factors, and the overall range is very wide). [30 year fixed 3.64%]
emphasis added
Tuesday:
• At 6:00 AM ET, NFIB Small Business Optimism Index for December.
• At 10:00 AM, Testimony, Fed Chair Jerome Powell, Nomination Hearing, Before the Committee on Banking, Housing, and Urban Affairs, U.S. Senate
On COVID (focus on hospitalizations and deaths):
| COVID Metrics | ||||
|---|---|---|---|---|
| Today | Week Ago |
Goal | ||
| Percent fully Vaccinated | 62.5% | — | ≥70.0%1 | |
| Fully Vaccinated (millions) | 207.7 | — | ≥2321 | |
| New Cases per Day3🚩 | 674,406 | 443,099 | ≤5,0002 | |
| Hospitalized3🚩 | 109,874 | 81,843 | ≤3,0002 | |
| Deaths per Day3🚩 | 1,552 | 1,181 | ≤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. |
||||
Click on graph for larger image.
This graph shows the daily (columns) and 7-day average (line) of positive tests reported.
New cases are at record levels. It appears likely hospitalizations will exceed the previous 7-day average record of 124,031 a year ago.
Fortunately, deaths are still well below the previous 7-day average record of 3,421 in January 2021.
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