Mike Bjork's (mbjork) Blog

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Mortgage and Lending - Pinnacle Home Loan - NMLS #275652/1820
RECENT BLOG POSTS
http://MikesDailyMarketReport.com: We have a few economic data to review today, which we'll start with the Personal Income, which rose 0.6% in February; along with Consumer Spending, which rose 0.2% in February. The Fed's favorite gauge for Inflation is the Personal Consumption Expenditure, actua...
03/27/2020
http://MikesDailyMarketReport.com: Initial Jobless Claims for last week exceeded it's estimate of 2.5 million, which it came in at 3.283 million. The previous record was 695k in 1982; and the highest it reached during the past Credit Crisis, a decade ago, was 655k; so, you can see how much of an ...
03/26/2020
http://MikesDailyMarketReport.com: Durable Goods Orders increased 1.2% in February; but if you exclude Transportation, then it contracted by 0.6%. The FHFA Home Price Index, which measures home appreciation on homes with conforming loans rose 0.3% MoM in January, and it's YoY was 5.2%. Stocks are...
03/25/2020
http://MikesDailyMarketReport.com: The Markit PMI flash released their 2 reports (Manufacturing and Service) today. Both dropped MoM in March, as Manufacturing dropped from 50.7 to 49.2; and Services dropped from 49.4 to 39.1, which is the lowest level on record. Anything below 50 is considered c...
03/24/2020
http://MikesDailyMarketReport.com: There is no data to report on the Economic Calendar today. There's really only one report this week that will be relevant due to the sudden impact of the coronavirus, and that is the Initial Jobless Claims this Thursday. Meanwhile, Stocks are Down this morning o...
03/23/2020
http://MikesDailyMarketReport.com: Existing Home Sales jumped Up in February, going from 5.42 million annualized units in January to 5.77 million in February. Because the Market has dramatically shifted from then, we can almost disregard this data. Stocks started the Day in Positive Territory, wh...
03/20/2020
http://MikesDailyMarketReport.com: The Initial Jobless Claims had a 70k spike in first time unemployment applicants last week, as it hit 281k. Manufacturing in the Philadelphia completely fell off in March, as it went from a very nice February of 36.7 to -12.7 in March, which is in contraction. S...
03/19/2020
http://MikesDailyMarketReport.com: Housing Starts dropped a bit in February, going from 1.624 million annualized units in January to 1.599 million. Also, Building Permits, which is our outlook for Housing Starts, dropped in February, going from 1.550 million in January to 1.464 million. Stocks ar...
03/18/2020
http://MikesDailyMarketReport.com: Happy St. Patrick's Day! Today, we have Retail Sales, which dropped 0.5% in February; and when you remove Autos, then it dropped 0.4%. However, Industrial Production rose 0.6% in February. Capacity Utilization rose from 76.8% to 77.0% in February. Home Builders ...
03/17/2020
http://MikesDailyMarketReport.com: The manufacturing sector in the NY region dropped dramatically, as the Empire State Index dropped 21.5% in March, which may be signs that the coronavirus is beginning to make it's way into the US economy. Stocks are WAY Down today, even having another 15 minute ...
03/16/2020
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