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Monday, March 28, 2022

Tuesday: Case-Shiller, Job Openings

by Calculated Risk on 3/28/2022 07:11:00 PM

From Matthew Graham at Mortgage News Daily: Uneventful Start This Week as Rates Flirt With 5%

Last week's big news was the rapid jump in rates. In fact, it was right in line with the worst week in decades in terms of the total increase in the average 30yr fixed rate. On that note, June 17-21, 2013 saw rates rise 0.52% compared to last week's 0.49%. Because rates are quoted in 0.125% increments, this would be a hit of 0.50% to prospective borrowers in either case. ... In more specific terms, the average lender is effectively unchanged when it comes to top tier 30yr fixed scenarios with quotes currently ranging from 4.875 to 5.125% in a majority of cases. [30 year fixed 4.95%]
emphasis added
• At 9:00 AM ET, S&P/Case-Shiller House Price Index for January. The consensus is for a 18.3% year-over-year increase in the Comp 20 index.

• Also at 9:00 AM, FHFA House Price Index for January 2021. This was originally a GSE only repeat sales, however there is also an expanded index.

• At 10:00 AM, Job Openings and Labor Turnover Survey for February from the BLS.

On COVID (focus on hospitalizations and deaths):

COVID Metrics
Percent fully Vaccinated65.5%---≥70.0%1
Fully Vaccinated (millions)217.4---≥2321
New Cases per Day3🚩27,77527,104≤5,0002
Deaths per Day3690927≤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.

COVID-19 Positive Tests per DayClick on graph for larger image.

This graph shows the daily (columns) and 7-day average (line) of deaths reported.

New cases have stopped declining.