by Calculated Risk on 1/31/2022 08:03:00 PM

From Matthew Graham at Mortgage News Daily: Mortgage Rates in a Lull After January's Rapid Rise

... we're in a holding pattern ... As for today itself, most lenders offered just slightly lower rates compared to last Friday, but still well within the range seen last week. [30 year fixed 3.68%]
emphasis added

Tuesday:
• At 8:00 AM ET, Corelogic House Price index for December.

• At 10:00 AM, Construction Spending for December. The consensus is for a 0.6% increase in construction spending.

• Also, at 10:00 AM, Job Openings and Labor Turnover Survey for December from the BLS.

• Also, at 10:00 AM, ISM Manufacturing Index for January. The consensus is for the ISM to be at 57.5, down from 58.8 in December.

On COVID (focus on hospitalizations and deaths):

COVID Metrics
	Now	Week Ago	Goal
Percent fully Vaccinated	63.8%	---	≥70.0%1
Fully Vaccinated (millions)	211.8	---	≥2321
New Cases per Day3	497,296	680,381	≤5,0002
Hospitalized3	126,699	145,610	≤3,0002
Deaths per Day3🚩	2,234	2,023	≤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 and hospitalizations are now declining.

Unfortunately, deaths are still rising, but well below the previous 7-day average record of 3,421 in January 2021.