Wednesday: Fed Chair Powell Testimony

by Calculated Risk on 6/21/2022 09:08:00 PM

From Matthew Graham at Mortgage News Daily: Mortgage Rates Slightly Higher to Start The Week

Mortgage rates surged well into the 6% range last week before quickly cooling down after Wednesday’s Fed announcement. The average top tier rate was nearly back below 6% by Friday. [30 year fixed 6.07%]
emphasis added Wednesday:
• At 7:00 AM ET, The Mortgage Bankers Association (MBA) will release the results for the mortgage purchase applications index.

• At 9:30 AM, Testimony, Fed Chair Jerome Powell, Semiannual Monetary Policy Report to Congress, Before the Committee on Banking, Housing, and Urban Affairs, U.S. Senate

During the day, The AIA’s Architecture Billings Index for May (a leading indicator for commercial real estate).

On COVID (focus on hospitalizations and deaths):

COVID Metrics  NowWeek
AgoGoal Percent fully Vaccinated66.8%—≥70.0%1 Fully Vaccinated (millions)221.9—≥2321 New Cases per Day389,102106,368≤5,0002 Hospitalized323,99224,066≤3,0002 Deaths per Day3239307≤502 1 Minimum to achieve “herd

Keep reading this article on Bill McBride - Calculedriskblog.

Leave a Reply