Mike Bjork's (mbjork) Blog

Mortgage and Lending - SunWest Mortgage - NMLS #275652/1820
http://MikesDailyMarketReport.com: Just a forewarning, I may have rambled on a bit too much today, so I apologize beforehand. However, we do have a lot of economic data to report today. The Weekly Jobless Claims came in at 3.84 million, with revisions of approximately +15k in the previous report....
http://MikesDailyMarketReport.com: The initial view of Q1 GDP shows the economy dropped 4.8%, which is on the heels of Q4 being up 2.1%. Pending Home Sales dropped 20.8% in March. The FOMC wraps up their 2 day meeting today, which Fed Chair Powell will provide his announcement at 11:30am PST. Sto...
http://MikesDailyMarketReport.com: The Case Shiller Home Price Index rose from 3.9% to 4.2% in February, which indicates the Real Estate Market heating up prior to coronavirus. Consumer Confidence dropped from 118.8 to 86.9 in April. Stocks started the morning Up, but has since drifted into the R...
http://MikesDailyMarketReport.com: There are no economic data to report today. Stocks are Up on optimism that parts of the world are re-opening their economy, including a few states in the US. Investors are watching Oil, as it dipped again to $12-$13/barrel. MBS is Down 11bps, as Mortgage Rates w...
http://MikesDailyMarketReport.com: Durable Goods Orders dropped by 14.4% in March; and only dropped by 0.2% when you exclude Transportation. Consumer Sentiment dropped from 89.1 in March to 71.8 in April. Stocks started the day in Positive Territory, but the DOW has since gone into Negative Terri...
http://MikesDailyMarketReport.com: Weekly Jobless Claims came in at 4.43 million people applying for Unemployment for the first time last week. Both the Manufacturing and Services Industries continue to sink, as Markit PMI released their reports showing Manufacturing dropping from 48.5 in March t...
http://MikesDailyMarketReport.com: There were no economic data to report today. Stocks are Up this morning on news of the new PPP Stimulus package passing thru Senate yesterday, which it will now go to House tomorrow. This new package will help both Small Businesses and Hospitals. MBS is Up 13bps...
http://MikesDailyMarketReport.com: Existing Home Sales dropped 8.5% in March, down to 5.27 million annualized units. Stocks are Down this morning on the struggles of the Oil Industry, as they went into negative territory for the first time for price per barrel. There's a new package with Congress...
http://MikesDailyMarketReport.com: There are no economic data to report today. Stocks are in Negative Territory, as Oil drops below $11/barrel on low demand based on the coronavirus quarantines. Also, Congress is working on a plan to help replenish up to $350 billion for the PPP, which is helping...
http://MikesDailyMarketReport.com: The Leading Economic Indicator Report shows a decline of 6.7% drop in March, which is a new record. Stocks are Up this morning on optimism of a new treatment for the coronavirus by Gillead and the President unveiled his plan for states to begin reopening their e...

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