Mike Bjork's (mbjork) Blog

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Mortgage and Lending - SunWest Mortgage - NMLS #275652/1820
RECENT BLOG POSTS
http://MikesDailyMarketReport.com: Weekly Jobless Claims reported 5.25 million people applied for Unemployment Benefits for the first time last week. This should push our Unemployment Rate between 15% - 20% now. Housing Starts dropped from 1.564 million in February to 1.216 million in March. Buil...
04/16/2020
http://MikesDailyMarketReport.com: Retail Sales dropped 8.7% in March; and when you exclude Autos, then it dropped 4.5%. Manufacturing in the NY region had a steep decline, as it came in -78.2. Industrial Production dropped 5.4% in March. Capacity Utilization dropped from 77.0% to 72.7% in March....
04/15/2020
http://MikesDailyMarketReport.com: There are no economic data to report today. Stocks are in Positive Territory this morning, as there appears to be some light at the end of the tunnel of this current pandemic. Seems like the amount of cases and deaths are dipping each day, so there's talk about ...
04/14/2020
http://MikesDailyMarketReport.com: There were no economic data to report today. Stocks are starting the week off in Negative fashion, as they brace for Q1 Earnings Reports, which this week will be the Major Banks. They're feeling a bit pessimistic! There was an agreement between the US, OPEC and ...
04/13/2020
http://MikesDailyMarketReport.com: Last week's Initial Jobless Claims Report was revised higher, from 6.6 million to 6.9 million. This week's report had 6.6 million people applying for Unemployment Benefits for the first time; so now, we're looking at approximately 17 million on Unemployment with...
04/09/2020
http://MikesDailyMarketReport.com: The FOMC Minutes from March 15th will be released later this morning. We don't anticipate any effects, as this was their emergency meeting where they cut the Fed Funds Rate to 0% and announced their QE purchases. Now only if we could get the FHFA (especially Dir...
04/08/2020
http://MikesDailyMarketReport.com: The small business optimism fell to it's lowest level since Oct 2016, as the NFIB Small Business Index dropped from 104.5 to 96.4 in March. Stocks are in Positive Territory again today on continued progress on coronavirus and possible news of another Stimulus pa...
04/07/2020
http://MikesDailyMarketReport.com: There are no economic data to report today. Stocks are Up this morning on optimism on the progress of the coronavirus, as death tolls declined in Italy and Spain, and even a bit it NYC. MBS is Up 3bps, as the Fed is just propping them out to help, but not hurt L...
04/06/2020
http://MikesDailyMarketReport.com: Non-Farm Payrolls reported 701k job losses for the month of March. This was much higher than estimates, anywhere between 80k-150k job losses, as the sample data used for this model were derived from March 12, which was prior to the full scope of the coronavirus ...
04/03/2020
http://MikesDailyMarketReport.com: The Weekly Initial Jobless Claims doubled the amount of people applying for unemployment benefits from previous week, as it went from 3.3 million to 6.6 million; so, in 2 weeks we have approximately 10 million people applying for Unemployment! Factory Orders wer...
04/02/2020
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