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Wednesday: Job Openings, ISM Services, FOMC Minutes

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by Calculated Risk on 7/05/2022 09:01:00 PM

Wednesday:
o At 7:00 AM ET, The Mortgage Bankers Association (MBA) will release the results for the mortgage purchase applications index.

o 10:00 AM, Job Openings and Labor Turnover Survey for May from the BLS. Jobs openings decreased in April to 11.400 million from 11.855 million in March.

o Also at 10:00 AM, the ISM Services Index for June. The consensus is for a reading of 54.5, down from 55.9.

o At 2:00 PM, FOMC Minutes, Meeting of June 14-15, 2022

On COVID (focus on hospitalizations and deaths):

COVID MetricsNowWeek
AgoGoalPercent fully Vaccinated66.9%—>=70.0%1Fully Vaccinated (millions)222.3—>=2321New Cases per Day394,345113,184<=5,0002Hospitalized323,45926,162<=3,0002Deaths per Day3295340<=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.

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

30-Year Mortgage Rates Decrease to 5.50%

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