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Tuesday: Construction Spending, Job Openings, ISM Mfg

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

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

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

o 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.

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