Mike Bjork's (mbjork) Blog

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

ARCHIVED BLOG POSTS

2022 

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http://MikesDailyMarketReport.com:  Today is Day 2 of March Jobs Data, which the Initial Jobless Claims rose back above 200k, at 202k last week.  Also, The Challenger Layoffs (Job Layoff Announcements) jumped up by approximately 6 million.  Something we'll need to watch, as that's a pretty big sp...
03/31/2022

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http://MikesDailyMarketReport.com:  The ADP report came out better than expected for March, which reported 455k new jobs in the Private Sector; and it's February data was revised higher, from 475k to 486k.  However, the final revision for the Q4 GDP came in a bit lower, at 6.9%, which we can expe...
03/30/2022

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http://MikesDailyMarketReport.com:  The Case Shiller Home Price Index (HPI), which measures the 20 largest Markets rose by 1.8% in January to 19.1% YoY.  Likewise, the FHFA HPI rose by 1.6% and it' YoY rose to 18.2%.  Funny thing, Consumer Confidence data for February was reduced from it's initia...
03/29/2022

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http://MikesDailyMarketReport.com:  There is nothing on the economic calendar today; however, there will be some important data being released this week, which include the Fed's favorite gauge for inflation (PCE); Jobs data; GDP for Q4; and Home Price Indices.  There is not much new news of late,...
03/28/2022

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http://MikesDailyMarketReport.com:  Pending Home Sales dropped by 4.1% in February to 104.9k seasonally adjusted units.  Meanwhile, Consumer Sentiment dropped by 0.3 to 59.4 in March, as Consumers watch Fed Hikes, Inflation, Ukraine/Russia Conflict unfold.  Markets are reacting to very hawkish co...
03/25/2022

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http://MikesDailyMarketReport.com:  The Initial Jobless Claims dropped below the 200k for the first time since the beginning of the Pandemic.  It came in at 187k; and the Continuing Claims declined, as well.  However, the Durable Goods Orders dropped by 2.2% in February.  Markit PMI released both...
03/24/2022

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http://MikesDailyMarketReport.com:  New Home Sales dropped 2.0% in February to 772k seasonally adjusted units due to spike in Mortgage Rates, as affordability continues to decline.  The hawkish talk from other Fed Members continues, as the Markets adjust to the Fed's policy changes, which include...
03/23/2022

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http://MikesDailyMarketReport.com:  Existing Home Sales dropped 7.2% in February to 6.02 million seasonally adjusted units.  But, Leading Indicator Index rebounded in February to 0.3%, after a bit of a contraction (-0.5%) in January.  Investors continue to monitor the Ukraine/Russia situation, as...
03/18/2022

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http://MikesDailyMarketReport.com:  Housing Starts rose by 6.8% in February to 1.769 million seasonally adjusted units; however, Building Permits (future Housing Starts) dropped 1.9% to 1.859 million.  This matches the drop in Home Builder Confidence, which is mostly attributed to the higher Mort...
03/17/2022

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http://MikesDailyMarketReport.com:  Retail Sales only rose 0.3% in February after a hot January, which rose (revised higher) 4.9%.  The NAHB Home Builders Index declined again in March to 79.  This index measures the confidence with Home Builders.  This is mostly attributed to higher Mortgage Rat...
03/16/2022
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