by Calculated Risk on 2/28/2022 08:36:00 PM

From Matthew Graham at Mortgage News Daily: Mortgage Rates Drop Noticeably as Global Drama Unfolds

To be sure, the average conventional 30yr fixed rate is still much higher than it was 3 weeks ago, but it's now lower than any day in between. Pricing is very stratified, depending on the lender, but the average lender is an entire eighth of a percent lower than Friday. That's a big move in general, but it's an exceptionally big move in the context of recent volatility.
emphasis added

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

• At 10:00 AM, ISM Manufacturing Index for January. The consensus is for the ISM to be at 58.0, up from 57.6 in January. 

• Also, at 10:00 AM, Construction Spending for December. The consensus is for a 0.2% decrease in construction spending.

• All day: Light vehicle sales for February. The consensus is for light vehicle sales to be 14.4 million SAAR in February, down from 15.0 million in January (Seasonally Adjusted Annual Rate).

On COVID (focus on hospitalizations and deaths):

COVID Metrics
	Now	Week Ago	Goal
Percent fully Vaccinated	64.9%	---	≥70.0%1
Fully Vaccinated (millions)	215.6	---	≥2321
New Cases per Day3	62,556	99,986	≤5,0002
Hospitalized3	41,242	62,792	≤3,0002
Deaths per Day3	1,686	1,940	≤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 deaths reported.

New cases, hospitalizations and deaths are now declining.