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Tuesday: Fed Chair Powell Nomination Hearing

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From Matthew Graham at Mortgage News Daily: Mortgage Rates Spiking at Fastest Pace in a Long Time
This morning’s additional weakness in the bond market brings the average conventional 30yr fixed scenario closer to 3.625% (as always, rate quotes depend on multiple factors, and the overall range is very wide). [30 year fixed 3.64%]
emphasis addedTuesday:
• At 6:00 AM ET, NFIB Small Business Optimism Index for December.

• At 10:00 AM, Testimony, Fed Chair Jerome Powell, Nomination Hearing, Before the Committee on Banking, Housing, and Urban Affairs, U.S. Senate

On COVID (focus on hospitalizations and deaths):

COVID Metrics  TodayWeek
AgoGoal Percent fully Vaccinated62.5%—≥70.0%1 Fully Vaccinated (millions)207.7—≥2321 New Cases per Day3🚩674,406443,099≤5,0002 Hospitalized3🚩109,87481,843≤3,0002 Deaths per Day3🚩1,5521,181≤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 are at record levels.  It appears likely hospitalizations will exceed the previous 7-day average record of 124,031 a year ago.
Fortunately, deaths are still well below the previous 7-day average record of 3,421 in January 2021.

Homebuilder Comments in December: “Still a ton of demand for new homes"

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