Mike Bjork's (mbjork) Blog

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

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2022 

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http://MikesDailyMarketReport.com:  The Chicago PMI dramatically dropped from 65.2 in January to 56.3 in February.  This index measures the business and manufacturing activity in the Chicago region.  Anything above 50 is considered expansion.  The Big tickets for the Economic Calendar this week w...
02/28/2022

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http://MikesDailyMarketReport.com:  The big data point for this week was released today, which is the Personal Consumption Expenditure (PCE).  This carries a lot of weight, as it is the Fed's favorite gauge for inflation.  The Headline Number rose 0.6% in January, while it's YoY rose to 6.1%.  It...
02/25/2022

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http://MikesDailyMarketReport.com:  Initial Jobless Claims dropped to 232k last week with Continuing Claims decreasing too.  The second look at the Q4 GDP increased to 7.0% (from 6.9%), as we'll receive the final reading next month.  New Home Sales dropped 4.5% to 801k seasonally adjusted annuali...
02/24/2022

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http://MikesDailyMarketReport.com:  We don't have anything to report on the Economic Calendar today; however, there is a 5 year Treasury Note Auction at 10am PST, which may have some impact with the Market today.  The main culprit for impacting both the Stock Market and MBS Market adversely today...
02/23/2022

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http://MikesDailyMarketReport.com:  The Case Shiller Home Price Index (HPI) rose 1.5% in December; and it's YoY increased to 18.6%.  This index measures home appreciation in the 20 Largest Markets in the US.  However, the FHFA Home Price Index rose 1.2% in December, while it's YoY remained Unchan...
02/22/2022

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http://MikesDailyMarketReport.com:  Existing Home Sales jumped up to 6.5 million seasonally adjusted units in January (up 6.7%), beating expectations of 6.1 million.  However, several variables (like Omicron, inflation, continued issues with supply chain, etc..) slowed down economic activity by 0...
02/18/2022

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http://MikesDailyMarketReport.com:  Housing Starts dropped by 4.1% in January, as it's down to 1.638 million seasonally adjusted units.  This was partially due to weather and possibly increasing mortgage rates.  If you look inside the numbers, then you'll notice that there were an increase in sin...
02/17/2022

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http://MikesDailyMarketReport.com:  Retail Sales rebounded in January, as it was reported up 3.8%; however, it's December's number was revised lower, from -1.9% to -2.5%.  Fortunately, Markets are still viewing the January's data as being positive!  Industrial Production exceeded expectations for...
02/16/2022

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http://MikesDailyMarketReport.com:  Today, we received inflation data for the Wholesale, which doesn't always receive the same respect as it's counter parts (CPI and PCE).  The reason for the lesser importance is that Wholesalers don't always pass along the higher expenses to the Consumer; but ob...
02/15/2022

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http://MikesDailyMarketReport.com:  There are no economic data  being reported today; however, the rest of the week will get busy with data from Housing, inflation, retail sales and manufacturing.  There were 2 Fed Members speaking today, whom are voting members, so their words carry weight.  The...
02/14/2022
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