Mike Bjork's (mbjork) Blog

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

ARCHIVED BLOG POSTS

2022 

http://MikesDailyMarketReport.com:  This week will be about Jobs data, starting tomorrow with the ADP and ending on Friday with the Non-Farm Payrolls and Unemployment Rate from the Bureau of Labor Statistics.  Today, we have 2 Home Price Indices (HPI) for the month of March.  The Case Shiller HPI...
05/31/2022
http://MikesDailyMarketReport.com:  Consumer Spending's March data was revised higher by 0.3% to 1.4%; while April it rose by 0.9%.  However, it's counter-part, Personal Income, only rose 0.3% in April.  Consumer Sentiment dropped from 59.1 in April to 58.4 in May.  Now, the big news!  Personal C...
05/27/2022
http://MikesDailyMarketReport.com:  Initial Jobless Claims dropped by 8k from last week's data to 210k; however, Continued Claims rose from 1.315 million to 1.346 million from last week's report.  The 2nd preliminary data report from GDP worsened by 0.1% to showing a contraction of 1.5% for Q1.  ...
05/26/2022
http://MikesDailyMarketReport.com:  The Durable Goods Orders had a lower revision to it's March report, as it went from 1.1% to 0.6%.  It's April's report underwhelmed at 0.4% after forecasts were calling for 0.6%.  Later today, the FOMC Minutes will be released, which could impact the Markets in...
05/25/2022
http://MikesDailyMarketReport.com:  The Markit Manufacturing PMI, as expected dropped to 57.5 in May; and Markit Services PMI dropped to 53.8, below expectations.  New Home Sales dropped 16.6% in April to 591k of seasonally adjusted units, as the spike in Mortgage Rates takes it's toll on New Hom...
05/24/2022
http://MikesDailyMarketReport.com:  There are no economic data to report today.  The rest of the week will have some important data being released, such as, Durable Goods, GDP and the biggie, PCE.  Stocks are Up today, as Investors are buying on the Dip, but also on some reports that the Biden Ad...
05/23/2022
http://MikesDailyMarketReport.com:  There are no economic data to report today.  Next week, we'll have a number of important data, but the most important will be the Personal Consumption Expenditure (PCE) on Friday.  This is the Fed's favorite index to gauge Consumer Inflation.  MBS is pretty muc...
05/20/2022
http://MikesDailyMarketReport.com:  The Philly Fed Index dropped from 17.6 in April to 2.6 in May.  This index measures the manufacturing around the Philadelphia area.  This has been see quite a bit this month, so we'll monitor to verify if this is becoming a trend or not.  Initial Jobless Claims...
05/19/2022
http://MikesDailyMarketReport.com:  Housing Starts dropped by 0.2% in April, as March data was revised lower (from 1.793 million seasonally adjusted units to 1.728 million).  April's data reported at 1.724 million.  Likewise, Building Permits dropped 3.2% in April.  However, it's March data was r...
05/18/2022
http://MikesDailyMarketReport.com:  Retail Sales rose 0.9% in April, after a sharp higher revision to March (from 0.5% to 1.4%).  This, on the surface looks very good, but Rick Santelli made a great point about this data.  The point is related to the data not being adjusted for inflation.  The re...
05/17/2022
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