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Tuesday: New Home Sales, Case-Shiller House Prices, Durable Goods, Richmond Fed Mfg

by Calculated Risk on 4/25/2022 09:15:00 PM

From Matthew Graham at Mortgage News Daily: Mortgage Rates Regain Most of What They Lost Late Last Week

Thursday and Friday weren’t great days for the mortgage market last week. … One business day later, and lenders are closer to territory from the first 3 days of last week. This is roughly an eighth of a percentage point lower than Friday’s rates fore most lenders (i.e. 5.375% instead of 5.5%). As always, these rates may not apply to every scenario and the best way to use this data is for the purpose of tracking day-over-day changes. [30 year fixed 5.32%]
emphasis added

o At 8:30 AM ET, Durable Goods Orders for March from the Census Bureau. The consensus is for a 1.0% increase in durable goods orders.

o At 9:00 AM, S&P/Case-Shiller House Price Index for February. The consensus is for a 18.4% year-over-year increase in the Comp 20 index for February.

o Also at 9:00 AM, FHFA House Price Index for February. This was originally a GSE only repeat sales, however there is also an expanded index.

o At 10:00 AM, New Home Sales for March from the Census Bureau. The consensus is for 762 thousand SAAR, down from 772 thousand in February.

o Also at 10:00 AM, Richmond Fed Survey of Manufacturing Activity for April.

On COVID (focus on hospitalizations and deaths):

COVID MetricsNowWeek
AgoGoalPercent fully Vaccinated66.1%—>=70.0%1Fully Vaccinated (millions)219.4—>=2321New Cases per Day3?44,41636,209<=5,0002Hospitalized39,5189,754<=3,0002Deaths per Day3314362<=5021 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.Deaths are declining week-over-week, but new cases are increasing.

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

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