Mike Bjork's (mbjork) Blog

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Mortgage and Lending - Evolve Bank & Trust - NMLS #275652

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2020 

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http://MikesDailyMarketReport.com: Personal Income rose 10.5% in April. We think this anomaly is due to the disparity based on the lower pay scale employees losing work during the pandemic. Consumer Spending dropped 13.6% in April, as much of the economy was closed. The Personal Consumption Expen...
05/29/2020

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http://MikesDailyMarketReport.com: Initial Jobless Claims continued the lower trend when it was reported that 2.12 million people applied for unemployment benefits last week, which is down from 2.45 million the week prior. The 2nd look at the Q1 GDP worsened, going from -4.8% to -5.0%. We'll get ...
05/28/2020

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http://MikesDailyMarketReport.com: We'll be able to get a better view of the US Economy when the Fed releases their Beige Book around 11am PST today. This provides a Micro view of each region of the US. Stocks started the morning off in Positive Territory; however, Technology Stocks started to go...
05/27/2020

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http://MikesDailyMarketReport.com: The Case Shiller HPI rose from 4.2% YoY in February to 4.4% in March; however, the FHFA HPI dropped from 6.1% in February to 5.9% in March. Consumer Confidence began to rise in May, as it went from 85.7 to 86.6. Also, a bit of a surprising report, is New Home Sa...
05/26/2020

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http://MikesDailyMarketReport.com: There are no economic data to report today. Stocks are Down this morning after reflecting on this week's events and heading into a long weekend. President Trump was asked a question regarding a possible 2nd wave, which he responded that we'll put out fires, but ...
05/22/2020

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http://MikesDailyMarketReport.com: Initial Jobless Claims continued it downward trend in people applying for unemployment benefits, as it dropped from 2.69 million in last week's report to 2.44 million in this week's report. The Philly Fed improved from -56.6 April to -43.1 in May. This index rep...
05/21/2020

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http://MikesDailyMarketReport.com: The FOMC Minutes will be released around 11am PST today, but we don't anticipate any news from these notes. Stocks are Up this morning on good earnings reports from retailers (like Target and Lowes). MBS is currently Up 11bps, and yesterday, it closed Up 27bps, ...
05/20/2020

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http://MikesDailyMarketReport.com: As expected, Housing Starts dropped in April, as it was reported at 891k annualized units (just under forecasts). Building Permits (future Housing Starts) also, dropped in April to 1.074 million (better than forecasts) annualized units. Stocks are a bit Mixed, a...
05/19/2020

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http://MikesDailyMarketReport.com: The NAHB Home Builders Index rose from a low of 30 in April to 37 in May. This index indicates the confidence level of Home Builders in the US on the Housing Market. Stocks are way Up this morning on news that Moderna Pharmaceuticals announced positive results f...
05/18/2020

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http://MikesDailyMarketReport.com: Retail Sales continued their decline in April, as they dropped 16.4%; and when you exclude "big ticket" items, like autos, then it dropped 17.2%. Manufacturing in the NY region improved some, but the number is still pretty bad, as the Empire State Index webt fro...
05/15/2020
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