by Calculated Risk on 5/09/2022 09:10:00 PM

From Matthew Graham at Mortgage News Daily: Rates Start High, But Improved Significantly By The Afternoon

2022 has been the year of volatility for mortgage rates with most of the swings resulting in successive runs to long-term highs. Every now and then, however, rates have a good day. Today was one of those days. [30 year fixed 5.52%]
emphasis added

Tuesday:
• At 6:00 AM ET, NFIB Small Business Optimism Index for April.

• At 11:00 AM, NY Fed: Q1 Quarterly Report on Household Debt and Credit

On COVID (focus on hospitalizations and deaths):

COVID Metrics
	Now	Week Ago	Goal
Percent fully Vaccinated	66.3%	---	≥70.0%1
Fully Vaccinated (millions)	220.2	---	≥2321
New Cases per Day3🚩	66,564	58,569	≤5,0002
Hospitalized3🚩	12,466	11,823	≤3,0002
Deaths per Day3	323	324	≤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 have more than doubled from the recent low, and hospitalizations are increasing week-over-week.

Average daily deaths bottomed in July 2021 at 214 per day.