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Tuesday: Fed Chair Powell Nomination Hearing

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by Calculated Risk on 1/10/2022 08:55:00 PM

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 added

Tuesday:
o At 6:00 AM ET, NFIB Small Business Optimism Index for December.

o 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
Today
Week
Ago
Goal
Percent fully Vaccinated
62.5%

>=70.0%1
Fully Vaccinated (millions)
207.7

>=2321
New Cases per Day3?
674,406
443,099
<=5,0002
Hospitalized3?
109,874
81,843
<=3,0002
Deaths per Day3?
1,552
1,181
<=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.

Update: Framing Lumber Prices Up 75% Year-over-year

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